https://www.taxtmi.com/caselaws?id=461973 ITAT Mumbai directed AO to restrict addition on bogus purchases of Rs.1,23,82,428 by applying same gross profit rate as genuine purchases, following Bombay HC precedent in Mohammad Haji Adam & Company. CIT(A) had earlier restricted GP ratio at 12.5% on purchases. Tribunal restored matter to AO with directions to calculate addition using uniform GP rate for both bogus and genuine purchases after assessee provides requisite details and AO conducts necessary verifications. Appeal allowed for statistical purposes. en-us Wed, 08 May 2019 00:00:00 +0530 Mon, 12 May 2025 19:09:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461973 ITAT Mumbai directed AO to restrict addition on bogus purchases of Rs.1,23,82,428 by applying same gross profit rate as genuine purchases, following Bombay HC precedent in Mohammad Haji Adam & Company. CIT(A) had earlier restricted GP ratio at 12.5% on purchases. Tribunal restored matter to AO with directions to calculate addition using uniform GP rate for both bogus and genuine purchases after assessee provides requisite details and AO conducts necessary verifications. Appeal allowed for statistical purposes. Case-Laws Income Tax Wed, 08 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461973