Bombay HC Upholds 15% Profit Addition on Bogus Purchases – Rejects Full Addition

PCIT Vs Ramelex Private Ltd (Bombay High Court)

Bombay HC Upholds 15% Profit Addition on Bogus Purchases – No Question of Law – Dismisses Revenue’s Appeal- Reliance on Sales Tax Data Alone Insufficient – Revenue’s Appeal Dismissed in Hawala Purchase Case

Bombay High Court dismissed the Revenue’s appeal, upholding the ITAT’s order restricting addition on bogus purchases to 15% of alleged Hawala purchases, relying on the Gujarat High Court ruling in CIT v. Simit P. Sheth (356 ITR 451)

Assessee, engaged in power transmission projects, w

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