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.
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...
