ITAT Mumbai held that reasonable amount of addition should be made in case of bogus purchase. Accordingly, CIT(A) has justifiably made addition on the reasonable estimate basis @ 5% of the bogus ...

In this video for Day 5, I’ll briefly explain the content of “Addition and Subtraction Using the 5 Bead.” Please excuse a few moments where my voice is a bit unclear due to a sore throat.

Conclusion: Since the business sales were accepted as genuine and only the purchases were routed through accommodation entries, only a part of the purchases needed adjustment to reflect possible ...