Dismissing the appeal of the Revenue the Court held that the order of Tribunal restriction of addition to profit element at 12.5 percent alleged bogus purchases is affirmed (AY.2010-11)
PCIT v. Tirupati Earth Neerprima JV(2023)457 ITR 521/154 taxmann.com 197 (Bom)(HC)
S. 69C : Unexplained expenditure-Bogus purchases-Purchases through banks-Material purchased was consumed in executing contract-Order of Tribunal restriction of addition to profit element at 12.5 percent alleged bogus purchases is affirmed. [S.44AB, 260A]