CIT-A Justifies 12.5% Disallowance of Profits from Fraudulent Hawala Purchases in Tax Case Decision.

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....Bogus purchases - CIT- A estimated profit from Hawala purchases by disallowing only 12.5% of the bogus purchases - Anyhow, on seeing the facts and circumstances, it seems quite justifiable to restrict the addition to the extent of 12.5% of the bogus purchase.....