Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case — Confirms ITAT's Order Restricting Disallowance to Profit Element. Purchases from Non-Compliant Parties Held Not Bogus Where Goods Were Used in Business; Only Estimated Profit Addition of 12.5% Sustained Under Income Tax Act, 1961....
The case involves two appeals filed by the Pr. Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Tribunal (ITAT) for the asse...




