https://www.taxtmi.com/caselaws?id=375981 The Tribunal upheld the assessing officer's decision to add Rs. 15,33,870 on account of bogus purchases for the assessment year 2009-10. Despite the assessee's efforts to prove the genuineness of the purchases with purchase bills and bank statements, the Tribunal found insufficient evidence to support the transactions. The Tribunal deemed the assessing officer's estimation of profit at 12.5% reasonable, as the assessee failed to refute this calculation. Consequently, the Tribunal dismissed the appeal and affirmed the addition for the bogus purchases made by the assessee. en-us Wed, 26 Dec 2018 00:00:00 +0530 Thu, 28 Feb 2019 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375981 The Tribunal upheld the assessing officer's decision to add Rs. 15,33,870 on account of bogus purchases for the assessment year 2009-10. Despite the assessee's efforts to prove the genuineness of the purchases with purchase bills and bank statements, the Tribunal found insufficient evidence to support the transactions. The Tribunal deemed the assessing officer's estimation of profit at 12.5% reasonable, as the assessee failed to refute this calculation. Consequently, the Tribunal dismissed the appeal and affirmed the addition for the bogus purchases made by the assessee. Case-Laws Income Tax Wed, 26 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375981