https://www.taxtmi.com/caselaws?id=280390 The appeal pertained to the assessment year 2009-10, where the assessee challenged the addition of &8377;19,27,910/- on account of alleged bogus purchases. Despite providing some documentation, the Assessing Officer deemed the purchases as bogus due to missing evidence and involvement of parties in accommodation entries. The Commissioner of Income Tax (Appeals) upheld the addition, citing lack of details, suppressed profits, and precedents supporting taxation on profit from bogus purchases. The appellant's argument on gross profit rate was dismissed, and the appeal was ultimately dismissed by the Judicial Member, affirming the addition. en-us Wed, 21 Jun 2017 00:00:00 +0530 Fri, 03 May 2019 08:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280390 The appeal pertained to the assessment year 2009-10, where the assessee challenged the addition of &8377;19,27,910/- on account of alleged bogus purchases. Despite providing some documentation, the Assessing Officer deemed the purchases as bogus due to missing evidence and involvement of parties in accommodation entries. The Commissioner of Income Tax (Appeals) upheld the addition, citing lack of details, suppressed profits, and precedents supporting taxation on profit from bogus purchases. The appellant's argument on gross profit rate was dismissed, and the appeal was ultimately dismissed by the Judicial Member, affirming the addition. Case-Laws Income Tax Wed, 21 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280390