https://www.taxtmi.com/highlights?id=45187 Bogus purchases - sales has been accepted then the corresponding purchases is required to be deducted for the purpose of arriving at profit - under the Income tax Act, the profit earned from the business transactions is alone taxable - CIT(A) to tax only 12.50% of purchases is upheld en-us Sat, 16 Mar 2019 08:23:32 +0530 Sat, 16 Mar 2019 08:23:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=45187 Bogus purchases - sales has been accepted then the corresponding purchases is required to be deducted for the purpose of arriving at profit - under the Income tax Act, the profit earned from the business transactions is alone taxable - CIT(A) to tax only 12.50% of purchases is upheld Highlights Income Tax Sat, 16 Mar 2019 08:23:32 +0530 https://www.taxtmi.com/highlights?id=45187