https://www.taxtmi.com/highlights?id=45912 Bogus purchases - profit estimation on alleged party @ 12.50% - no material to substantiate the view taken by the AO - comparing the GP rate on other purchases and overall G.P rate declared, it was held that assessee is operating on low margin, hence the rate of G.P should be at rate earned from other purchases en-us Tue, 16 Apr 2019 15:13:47 +0530 Tue, 16 Apr 2019 15:13:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=45912 Bogus purchases - profit estimation on alleged party @ 12.50% - no material to substantiate the view taken by the AO - comparing the GP rate on other purchases and overall G.P rate declared, it was held that assessee is operating on low margin, hence the rate of G.P should be at rate earned from other purchases Highlights Income Tax Tue, 16 Apr 2019 15:13:47 +0530 https://www.taxtmi.com/highlights?id=45912