https://www.taxtmi.com/highlights?id=61489 Bogus purchases - Disallowance in respect of provision of batteries - Whenever any estimation is required to be made guess-work would always be there. But such guess-work should be in consonance with overall profit shown by the assessee. It has achieved a turnover of more than ₹ 102 crores, and returned income of ₹ 4.13 crores. These factors are also to be kept in mind. Taking into consideration all these facts, we estimate disallowance out of these bogus purchase at 7%. - AT en-us Mon, 17 Jan 2022 14:17:03 +0530 Mon, 17 Jan 2022 14:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61489 Bogus purchases - Disallowance in respect of provision of batteries - Whenever any estimation is required to be made guess-work would always be there. But such guess-work should be in consonance with overall profit shown by the assessee. It has achieved a turnover of more than ₹ 102 crores, and returned income of ₹ 4.13 crores. These factors are also to be kept in mind. Taking into consideration all these facts, we estimate disallowance out of these bogus purchase at 7%. - AT Highlights Income Tax Mon, 17 Jan 2022 14:17:03 +0530 https://www.taxtmi.com/highlights?id=61489