Section 263 Revision Case: AO's 12.5% Disallowance Rate on Bogus Purchases Upheld as Legally Valid Decision.

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....Revision u/s 263 - Bogus purchases - AO making disallowance @ 12.5% - the decision of the Assessing Officer in making addition applying the profit rate is in consonance with various judicial precedents available on the issue. - it cannot be considered to be an erroneous view as it is a possible view.....