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2018 (4) TMI 1202 - AT - Income TaxAddition of 12.5% in respect of alleged bogus purchases - Held that:- Considering circumstances of the case vis-à-vis gross profit and net profit declared by the assessee during the years under consideration and cases of Geolife Organics (2017 (5) TMI 1101 - ITAT MUMBAI) and Suman Gupta [2018 (4) TMI 1217 - ITAT MUMBAI] we direct the AO to restrict the addition to the extent of 2% of such alleged bogus purchases in all the three years under consideration. - Decided partly in favour of assessee.
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