If the gross profit already shown is more than 12.5%, no disallowance is required on account of Bogus purchases
Last updated: 22 January 2021
Court :
ITAT Mumbai
Brief :
This appeal by the assessee wherein the assessee is aggrieved that the learned Commissioner of Income Tax (Appeals)-3, Mumbai (‘ld.CIT(A) for short) dated01.11.2018 has erred in sustaining 25% disallowance on account of bogus purchase for the assessment year (A.Y.) 2010-11.
Citation :
ITA No. 736/Mum/2019
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Published in Income Tax
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