The AO assessed the income of the assessee by making the addition of 12.5% of alleged bogus purchases . PCIT passed the revision order directing to make entire bogus purchases . On appeal the Tribunal  quashed the revision order . Referred the judgement in PCIT v. Paramshakhti  distributors Pvt Ltd  (ITA No. 413 of 2017 ) where in the Court held that only the profit element embodied in such purchases only brought to tax . ( ITA No. 359/ Mum/ 2021 dt . 17 -12 -2021 )