Monday 27 July 2015

Addition made by AO due to bogus purchases was rightly reduced by relying upon verdict of Apex Court

IT : Where addition made by Assessing Officer on account of bogus purchases was reduced by Tribunal relying upon decision of coordinate bench of Tribunal, though order of Tribunal was non-speaking, in view of fact that GP rate shown was still higher than that in subsequent years, impugned order of Tribunal did not require any interference

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