High Court Confirms Relief for Assessee in Bogus Purchases Case; Profit Estimation Adjusted, Additions Deleted.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Bogus purchases - estimation of profit of 17.5% on the total alleged bogus purchases and thereafter, to delete the balance amount of addition - merely because the suppliers had not appeared before the Assessing Officer, no conclusion could be arrived at that the purchases were not made by the assessee - Relief granted to assessee by the CIT(A) and ITAT confirmed - HC....