Commissioner of Income Tax (Appeals) Adds 10% to Bogus Purchases for Gray Market Involvement with Hawala Operators.

Addition of bogus purchases - The CIT (A) came to the conclusion that it is a case of purchases from gray market and thereafter, bills have been procured from hawala operators - then neither the entire purchases can be considered as bogus nor the assessee be allowed to go scot free for not proving the genuineness of the purchases - addition to 10% of bogus purchases .....

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