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2021 (8) TMI 556 - AT - Income TaxEstimation of income - Bogus purchases - CIT- A confirmed the addition @12.5% of purchased value - HELD THAT:- Estimation of G.P by CIT(A) at 12.5% on bogus purchases is on higher side - addition is restricted to 6% of the bogus purchases in each of the assessment years. The impugned order is modified, accordingly. The appeals of the assessee are partly allowed in the terms aforesaid.
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