https://www.taxtmi.com/caselaws?id=264244 The High Court dismissed the appeal filed by the revenue challenging orders of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal regarding disputed purchases in the assessment year 1995-96. The Court upheld the decision to restrict additions made on account of bogus purchases, affirming the liability of the assessee to pay tax on only 20% of the purchase value, not the entire amount. The Court found the appeal lacking merit and affirmed the lower authorities' decisions. en-us Tue, 21 Jul 2015 00:00:00 +0530 Mon, 21 Sep 2015 10:55:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264244 The High Court dismissed the appeal filed by the revenue challenging orders of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal regarding disputed purchases in the assessment year 1995-96. The Court upheld the decision to restrict additions made on account of bogus purchases, affirming the liability of the assessee to pay tax on only 20% of the purchase value, not the entire amount. The Court found the appeal lacking merit and affirmed the lower authorities' decisions. Case-Laws Income Tax Tue, 21 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264244