#Bogus purchases
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533 articlesIncome Tax
Income Tax
Bogus Purchase Addition Deleted; ITAT validates 13.05% profit rate declared by assessee
Income Tax
Income Tax
No Section 271(1)(c) penalty on estimated addition of alleged bogus purchases
Income Tax
Income Tax
ITAT Mumbai direct AO to compute addition at 3% of Bogus Purchase
Income Tax
Income Tax
ITAT deletes Bogus Purchase Additions as Purchase Legitimacy proved
Income Tax
Income Tax
Bogus Purchases: Bombay HC upholds addition of 12.5% of purchases
Income Tax
Income Tax
ITAT follows principle of consistency; Restricts addition for Bogus Purchase to 3%
Income Tax
Income Tax
Only profit element embedded in bogus purchases should be added to income
Income Tax
Income Tax
ITAT confirms 12.5% gross profit margin on alleged bogus purchases
Income Tax
Income Tax
Gross Profit Addition on Bogus Purchases should Align with Genuine Ones
Income Tax
Income Tax
ITAT Mumbai upholds addition of 12.5% of profit element confirmed by NFAC
Income Tax
Income Tax
Disallow Only Profit Element on Bogus Purchases: ITAT Mumbai
Income Tax
Income Tax
Illogical to Treat Sales as Bogus When Purchases & Stock are Deemed Genuine
Income Tax
Income Tax
ITAT Mumbai restricts addition for Bogus purchases to 10% of disputed purchases
Income Tax
Income Tax
