2024 (9) TMI 1794

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....r the Revenue : Shri R. R. Makwana, Sr. DR ORDER PERNARENDRA KUMAR BILLAIYA, AM: This appeal by the revenue is preferred against the order dated 29.01.2024 of ld. NFAC, Delhi pertaining to Assessment Year 2016-17. 2. The sum and substance of the grievance of the revenue is that the ld. CIT(A) erred in restricting the addition on account of bogus purchase to the extent of 2.5% of such p....

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....024 has considered similar issue in the case of the assessee and held as under:- "7. We have given thoughtful considerations to the peculiar facts and circumstances of the case. We observe from the assessment order that the AO consciously recorded that malpractice of bogus purchases is mainly to save 10% of sales tax etc. and the profit margin in the industry in which the Assessee is work....