https://www.taxtmi.com/caselaws?id=775524 The ITAT Mumbai reduced the addition made by the AO on account of alleged bogus purchases by applying the assessee's average gross profit rate of 2.73% instead of the AO's 12.5%. The assessee had provided supporting documents which were not discredited by the AO. Following the Bombay HC precedent, the ITAT directed the AO to modify the assessment order accordingly. The appeal was allowed for statistical purposes and the matter was remanded for reassessment in line with these findings. en-us Thu, 24 Jul 2025 00:00:00 +0530 Sat, 26 Jul 2025 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775524 The ITAT Mumbai reduced the addition made by the AO on account of alleged bogus purchases by applying the assessee's average gross profit rate of 2.73% instead of the AO's 12.5%. The assessee had provided supporting documents which were not discredited by the AO. Following the Bombay HC precedent, the ITAT directed the AO to modify the assessment order accordingly. The appeal was allowed for statistical purposes and the matter was remanded for reassessment in line with these findings. Case-Laws Income Tax Thu, 24 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775524