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2022 (11) TMI 377 - AT - Income TaxEstimation of income - bogus purchases - HELD THAT:- Keeping in view the gross profit earned by the assessee for the preceding years which is not more than 9%, addition @25% or 100% of bogus purchases is not sustainable in the eyes of law. Hence, direct the Assessing Officer to charge the assessee at the gross profit @9% on the bogus purchases for A.Y.2009-10 and for A.Y. 2010-11. Resultantly, appeals filed by the assessee are allowed.
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