451 orders · Page 10 of 10
The Tribunal held that while the AO's disallowance of 12.5% on bogus purchases was reasonable, further addition would amount to double jeopardy as the assessee had already declared a gross profit higher than 12.5%. Therefore, the disallowance was to be reduced by the gross profit rate already declared.
Showing 451–451 of 451 · Page 10 of 10
