https://www.taxtmi.com/caselaws?id=770327 ITAT Mumbai-AT dealt with additions on account of alleged bogus purchases in the assessee's ferrous/non-ferrous metal business. The AO had applied a 12.5% profit element on such purchases, which the CIT(A) reduced to 4%. Relying on its coordinate bench decisions in similar cases involving identical business and issues, ITAT held that only the profit element embedded in the bogus purchases is taxable. Considering parity and the facts, ITAT restricted the addition to 5% of the alleged bogus purchases instead of 4% sustained by CIT(A), and directed the AO to recompute income accordingly. en-us Thu, 03 Apr 2025 00:00:00 +0530 Fri, 28 Nov 2025 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770327 ITAT Mumbai-AT dealt with additions on account of alleged bogus purchases in the assessee's ferrous/non-ferrous metal business. The AO had applied a 12.5% profit element on such purchases, which the CIT(A) reduced to 4%. Relying on its coordinate bench decisions in similar cases involving identical business and issues, ITAT held that only the profit element embedded in the bogus purchases is taxable. Considering parity and the facts, ITAT restricted the addition to 5% of the alleged bogus purchases instead of 4% sustained by CIT(A), and directed the AO to recompute income accordingly. Case-Laws Income Tax Thu, 03 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770327