Bombay High Court Dismisses Revenue's Appeal in Bogus Purchases Case — Upholds Profit Rate Estimation. The court held that where purchases are proved genuine except for two parties, the disallowance can be restricted to profit margin and 100% disallowance is not warranted under Section 69C of the Income Tax Act, 1961.
5 Mar 2025The case involves an appeal by the Principal Commissioner of Income Tax (revenue) against the order of the Income Tax Appellate Tribunal (ITAT) for th...





