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2017 (9) TMI 1581 - AT - Income TaxBogus purchases - addition by CIT(A) applying profit rate of 12.5% - Held that:- From the record, found that assessee has shown good GP during the years under consideration. Keeping in view the normal GP being shown by the assessee engaged in the similar business, found that assessee had shown reasonable good GP. Direct the AO to restrict the addition to the extent of 10% in the A.Y.2010-11 where assessee had shown GP of 10.43%. AO is directed to restrict the addition to the extent of 8% in the A.Y.2009-10 and 2011-12 where assessee had shown GP of 11.72% and 11.89% respectively.
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