https://www.taxtmi.com/highlights?id=54323 Estimation of income - Bogus purchases - Rejection of books of accounts - There is no error in the finding of the ld.CIT(A) for rejection of the books of accounts as well as estimation of profit at 7% on the total turnover. There is no justification at the end of the AO to estimate profit at 40% of the turnover, which is merely based on some illogical consideration of facts and figures. - AT en-us Tue, 11 Aug 2020 08:27:07 +0530 Tue, 11 Aug 2020 08:27:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54323 Estimation of income - Bogus purchases - Rejection of books of accounts - There is no error in the finding of the ld.CIT(A) for rejection of the books of accounts as well as estimation of profit at 7% on the total turnover. There is no justification at the end of the AO to estimate profit at 40% of the turnover, which is merely based on some illogical consideration of facts and figures. - AT Highlights Income Tax Tue, 11 Aug 2020 08:27:07 +0530 https://www.taxtmi.com/highlights?id=54323