Tax Appeal Dismissed: CIT(A) Decision to Increase Disallowance on Bogus Purchases from 2.5% to 3% Upheld.

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....Estimation of income - bogus purchases - CIT(A) appreciated to estimate the disallowance @ 3% instead of 2.5% proposed by AO and we observe that the revenue is in appeal objecting the findings of Ld. CIT(A). Therefore, we dismissed the Ground No. 1 raised by the revenue that AO cannot apply any other method other than estimating the disallowance on alleged purchases. - AT....