Income Estimation for Bogus Purchases: Commissioner Limits Addition to 12.5% Based on Tribunal's Standard Profit Rate.

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....Estimation of income - Bogus purchases - Specific information received from the Sales Tax Department to indicate that certain purchases made by the assessee were non-genuine - Considering the nature of business of the assessee and the profit rate generally adopted by the Tribunal in such type of cases no infirmity decision of learned Commissioner (Appeals) in restricting the addition to 12.5% of the alleged non genuine purchases - AT....