AO Finds Bogus Purchases; Taxes Profit Element at 12.50% Based on Sales Tax Department Data and Inquiries.

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....Bogus purchases - AO has brought out clear facts in the light of information received from ST Department coupled with further enquiries that purchases from above two parties are bogus in nature which are not supported by necessary evidence and taxed profit element embedded in those purchases @12.50% - there is no reason to interfere....