https://www.taxtmi.com/caselaws?id=260146 Issues involved were additions on account of bogus purchases and excess claim of loss of goods due to fire, as well as the levy of a penalty under Section 271(1)(c). The Tribunal partially allowed ITA No.1742/Ahd/2010 by directing a 12.5% profit assessment on disputed purchases and reversing the stock loss addition. ITA No.1743/Ahd/2010 was allowed, deleting the penalty under Section 271(1)(c). en-us Fri, 30 Jan 2015 00:00:00 +0530 Wed, 03 Jun 2015 06:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260146 Issues involved were additions on account of bogus purchases and excess claim of loss of goods due to fire, as well as the levy of a penalty under Section 271(1)(c). The Tribunal partially allowed ITA No.1742/Ahd/2010 by directing a 12.5% profit assessment on disputed purchases and reversing the stock loss addition. ITA No.1743/Ahd/2010 was allowed, deleting the penalty under Section 271(1)(c). Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260146