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2019 (1) TMI 1455 - AT - Income TaxBogus purchases - assessee failed to establish the genuineness of the purchase and accordingly, he made addition of unproved purchase at 12.5% - Held that:- As relying on Simit P. Sheth [2013 (10) TMI 1028 - GUJARAT HIGH COURT] we find that the CIT(A) has rightly applied the profit rate at the rate of 6.5% of the bogus purchases and we confirm the same. This issue of assessee’s appeal is dismissed.
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