https://www.taxtmi.com/caselaws?id=282963 The Revenue's appeal against the deletion of an addition of Rs. 84,19,646 on account of bogus purchases in the assessment year 2008-09 was partly allowed. The Tribunal directed the AO to apply a 12.5% net profit on the alleged bogus purchases, aligning with a previous ruling in the assessee's case, emphasizing the need for a higher profit estimation based on established precedents in similar cases. en-us Wed, 27 Feb 2019 00:00:00 +0530 Sun, 01 Sep 2019 16:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282963 The Revenue's appeal against the deletion of an addition of Rs. 84,19,646 on account of bogus purchases in the assessment year 2008-09 was partly allowed. The Tribunal directed the AO to apply a 12.5% net profit on the alleged bogus purchases, aligning with a previous ruling in the assessee's case, emphasizing the need for a higher profit estimation based on established precedents in similar cases. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282963