https://www.taxtmi.com/highlights?id=54724 Estimation of income - bogus purchases - We admit additional evidence being MVAT paid by the assessee for the concerned assessment years on the impugned purchases. We direct the Assessing Officer to examine the veracity of these MVAT paid @ 4% by the assessee. If the same are found in order, in accordance with the ITAT decision as above addition should be restricted to 2.5% of the impugned purchases. - AT en-us Fri, 11 Sep 2020 15:50:24 +0530 Fri, 11 Sep 2020 15:50:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54724 Estimation of income - bogus purchases - We admit additional evidence being MVAT paid by the assessee for the concerned assessment years on the impugned purchases. We direct the Assessing Officer to examine the veracity of these MVAT paid @ 4% by the assessee. If the same are found in order, in accordance with the ITAT decision as above addition should be restricted to 2.5% of the impugned purchases. - AT Highlights Income Tax Fri, 11 Sep 2020 15:50:24 +0530 https://www.taxtmi.com/highlights?id=54724