Section 69C of Income Tax Act, 1961—Bogus purchase— the revenue is aggrieved by the action of the ld. CIT(A) for restricting the addition on account of bogus purchases to the extent of 12.5% of such purchases.

Held that— The order passed by CIT(A) after considering the remand report is very reasoned order. Accordingly, we do not find any reason to interfere with the order of CIT(A) upholding the addition on account of bogus purchases to the extent of 12.5% less G.P. already declared by the assessee in the last purchase.[DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7 (3) , MUMBAI VERSUS M/S K. AMISHKUMAR TRADING PVT. LTD. AND (VICE-VERSA)][2019] 17 ITCD Online (36) [ ITAT MUMBAI]