Estimation of income - bogus purchases - The Revenue argued that when purchases are proven bogus, the...

Estimation of income - bogus purchases - The Revenue argued that when purchases are proven bogus, the entire amount should be added to the income. However, the court cited precedents and upheld the ITAT's decision, stating that the factual finding of 8% as a fair profit margin was reasonable and in line with established legal principles. .....

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