Commissioner (Appeals) restricted addition to 12.5 per cent of such bogus purchases. On appeal Tribunal estimated the addition to 6% of alleged bogus purchases. (AY. 2009-10 to 2011-12)
Jaswantlal J. Shah. v. ACIT (2021) 190 ITD 157 (Mum.)(Trib.)
S. 69C : Unexplained expenditure-Bogus purchases-Addition was restricted to 6% of alleged bogus purchases. [S. 133(6)]