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2019 (12) TMI 449 - ITAT MUMBAIBogus purchases - NP @5% of the turnover, as per the provisions of section 44AF - HELD THAT:- None of the findings and observations of the Ld.CIT(A) have been rebutted with evidences by the revenue and thus we do not see any infirmity in the order passed by the Ld.CIT(A) in restricting the disallowance to the extent of 5% of the Net Profit purchases. Grounds raised by the revenue are dismissed.
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