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.
4 May 2023The 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...




