Court Rules Profit from Unaccounted Purchases Taxable u/s 69C of Income Tax Act; Limits Tax to 10% Profit Element.

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....Unexplained expenditure u/s. 69C - the profit element embedded in unaccounted purchases would have to be brought to tax. Considering the facts of the case as well as the nature of assessee's business, we estimate the profit element in unaccounted purchases @10% - The balance addition stand deleted - AT....