https://www.taxtmi.com/caselaws?id=441791 The High Court of Bombay upheld the decisions of the CIT(A) and ITAT regarding the estimation of profit on non-genuine purchases and the addition made by the AO based on Sales Tax Department findings. The court emphasized that only the profit element should be added to the income of the assessee in such cases. The appeal was dismissed, and the court found no reason to interfere with the lower authorities' decisions. en-us Wed, 12 Jul 2023 00:00:00 +0530 Thu, 17 Aug 2023 07:47:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441791 The High Court of Bombay upheld the decisions of the CIT(A) and ITAT regarding the estimation of profit on non-genuine purchases and the addition made by the AO based on Sales Tax Department findings. The court emphasized that only the profit element should be added to the income of the assessee in such cases. The appeal was dismissed, and the court found no reason to interfere with the lower authorities' decisions. Case-Laws Income Tax Wed, 12 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441791