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2021 (3) TMI 675 - AT - Income TaxEstimation of income - bogus purchases - AO estimated the profit @ 12.5% of the disputed purchases - HELD THAT:- As relying on N.K. INDUSTRIES LTD. VERSUS DY. C.I.T [2016 (6) TMI 1139 - GUJARAT HIGH COURT] we set aside the order of the Ld. CIT(A) and direct the AO to restrict the additions limited to the extent of bringing the G.P. rate on disputed purchases at the same rate of other genuine purchases. Facts being identical, our decision for the AY 2009-10 applies mutatis mutandis to AY 2011-12.
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