Court Rules Against Income Estimation Beyond Declared Book Results in Bogus Purchases Case; CIT(A) Overruled.

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....Estimation of income - Bogus purchases - Reliability of statement of third party - merely the third person stated that he is involved in issuing accommodation bill, the book results declared by the assessee which is higher then the industry norms prescribed by the board the action of the assessing officer in estimating the profit over and above the books results confirmed by the ld. CIT(A) is not in accordance with the law. - AT....