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2017 (6) TMI 519 - AT - Income TaxAddition on account of bogus purchases - estimation of profit on the alleged hawala purchases - Held that:- The issue arising in the present appeals is identical to the issue before the Tribunal in M/s. Chetan Enterprises Vs. ACIT [2016 (8) TMI 1203 - ITAT PUNE]and following the same parity of reasoning, the addition in the case is restricted to addition by applying the GP rate of 10% on the bogus purchases over and above the GP rate shown by the assessee. The Assessing Officer is directed to re-compute the addition in the hands of assessee in the respective years. Accordingly, grounds of appeal raised in both the appeals are partly allowed.
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