https://www.taxtmi.com/caselaws?id=386726 The revenue's appeal against the addition of alleged bogus purchases amounting to Rs. 95,39,678 was partially allowed for the A.Y. 2010-11. The Hon'ble Bombay High Court's decision limited additions to the difference in gross profit between bogus and normal purchases. The Tribunal directed the A.O. to recalculate the addition based on this principle, aligning the gross profit rate on bogus purchases with genuine ones. This decision ensures a fair and consistent approach in determining taxable income, as per the High Court's directive in similar cases. en-us Fri, 06 Sep 2019 00:00:00 +0530 Mon, 07 Oct 2019 21:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386726 The revenue's appeal against the addition of alleged bogus purchases amounting to Rs. 95,39,678 was partially allowed for the A.Y. 2010-11. The Hon'ble Bombay High Court's decision limited additions to the difference in gross profit between bogus and normal purchases. The Tribunal directed the A.O. to recalculate the addition based on this principle, aligning the gross profit rate on bogus purchases with genuine ones. This decision ensures a fair and consistent approach in determining taxable income, as per the High Court's directive in similar cases. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386726