Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case - Upholds ITAT's Estimation of Profit. Estimation of profit on bogus purchases at 12.5% upheld as reasonable; entire purchase amount cannot be added when purchases are not disputed as genuine....
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 assessme...




