Dismissing the appeal of the revenue the Court held that The Department submitted that the restricting addition to the extend of seven percentage of alleged bogus purchases was held to be not proper. Appeal of revenue was dismissed. No question of law.
PCIT v. Pravin U. Parmar (Jain) (2025) 474 ITR 171 (Bom)(HC)
S. 69C: Unexplained expenditure-Bogus purchases-Restricting addition to the extend of seven percentage of alleged bogus purchases-No question of law-Order of Tribunal was affirmed. [S.37(1), 69C, 260A].