Held that the assessee explained before the lower authorities that such journal entries are passed at the end of the year for the purpose of transferring the amounts incurred during the year, which may have been erroneously debited to wrong ledger accounts, to the correct/appropriate ledger account, which is relevant to the concerned expenditure or for the purpose of consolidating the entries under primary ledger accounts. This explanation was tenable inasmuch as these journal entries passed to simply transfer the amounts debited under a wrong ledger to the correct ledger, and thus cannot be construed to be booking of bogus expense. Accordingly, the disallowance of the bulk journal entries  deleted. Companies engaged in the same line of business, have reported profitability in the range of 3 per cent to 9 per cent across these years-The profit of the assessee is to be estimated at 10 per cent of the contractual receipts. (AY. 2016-17 to 2021-22)