386 results for “bogus purchases”+ Section 12clear
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Bench: Shri Pawan Singh & Dr. Arjun Lal Saini
12% of such bogus purchases. And on further appeal, the Hon'ble High Court sustained Gross Profit Rate @ 5% being average rate of profit in industry. 18. We find that considering the aforesaid overall facts and circumstances of the present case, we are of the view that disallowances @ 6% of impugned purchases / disputed purchases would be sufficient to meet