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2017 (9) TMI 303 - ITAT MUMBAIBogus purchases - Determination of GP Ratio - CIT(A) confirmed the additions @35% - Held that:- Keeping in view peculiar factual matrix of the case where no consumption/utilization of the material for manufacture of finished goods as well fall in GP ratio was not explained by the assessee nor genuineness of the purchases stood proved, the matter needs to go back to the A.O. for de-novo determination of the issue on merits in accordance with law. - matter remanded back.
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