https://www.taxtmi.com/caselaws?id=423912 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the addition of bogus purchases to the total income for Assessment Year 2011-2012. The Court found that estimating profit at 15% of the alleged bogus purchases was appropriate, considering the necessity of purchases for sales to occur. The Court dismissed the appeal filed by the Revenue, as it determined that no question of law arose for consideration based on the Division Bench's observation in a related case. en-us Thu, 09 Jun 2022 00:00:00 +0530 Thu, 16 Jun 2022 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423912 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the addition of bogus purchases to the total income for Assessment Year 2011-2012. The Court found that estimating profit at 15% of the alleged bogus purchases was appropriate, considering the necessity of purchases for sales to occur. The Court dismissed the appeal filed by the Revenue, as it determined that no question of law arose for consideration based on the Division Bench's observation in a related case. Case-Laws Income Tax Thu, 09 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423912