https://www.taxtmi.com/caselaws?id=439355 The Appellate Tribunal ITAT PUNE partially allowed the appeal in a case concerning the disallowance of purchases amounting to Rs. 43,47,750 as 'Bogus purchases' for the assessment year 2009-10. The Tribunal held that only the profit element in bogus purchases should be added, not the full amount. It found the addition of Rs. 6,60,106 to be excessive and directed its deletion, as it exceeded the gross profit margin on such entries. Therefore, the disallowance was removed, resulting in a partial success for the appellant. en-us Tue, 20 Jun 2023 00:00:00 +0530 Thu, 22 Jun 2023 09:06:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439355 The Appellate Tribunal ITAT PUNE partially allowed the appeal in a case concerning the disallowance of purchases amounting to Rs. 43,47,750 as 'Bogus purchases' for the assessment year 2009-10. The Tribunal held that only the profit element in bogus purchases should be added, not the full amount. It found the addition of Rs. 6,60,106 to be excessive and directed its deletion, as it exceeded the gross profit margin on such entries. Therefore, the disallowance was removed, resulting in a partial success for the appellant. Case-Laws Income Tax Tue, 20 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439355