Gross Profit Addition on Bogus Purchases should Align with Genuine Ones

Murtuza Abdul Gaffar Khan Vs National Faceless Appeal Centre (ITAT Mumbai) In the case of Murtuza Abdul Gaffar Khan vs. National Faceless Appeal Centre (ITAT Mumbai), the appellant, Murtuza Abdul Gaffar Khan, challenged the appellate order passed by the National Faceless Appeal Centre, Delhi, concerning the assessment order for the assessment year 2011-12. The appellant contested the addition of ₹1,15,86,557/- as non-genuine purchases under Section 68 of the Income Tax Act, 1961. The facts of the case revealed that the appellant was an individual proprietor of Engineer Tube Traders engaged i...