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2018 (11) TMI 785 - AT - Income TaxBogus purchases - G.P. estimation - Buying from grey market - Held that:- We find the facts of the present case are identical to the facts in the case of DCIT Vs. M/s. Rang Rasayan [2018 (7) TMI 1859 - ITAT PUNE]. Therefore, considering the rule of consistency, we approve the view taken by the Ld.CIT(A) adopting Gross Profit @5% of the purchases and dismiss the grounds raised by the assessee.
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