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2017 (12) TMI 1479 - ITAT MUMBAIBogus purchases - profit estimation - Held that:- Factum of purchases from bogus suppliers have been established. Under these facts and circumstances, the CIT(A) has very reasonably restricted the addition to the extent of 12.5% and had given further relief to the extent of profit already declared by the assessee @6.5%. Thus, net addition so sustained by the CIT(A) is to the extent of 6.25% of the alleged bogus purchases.
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