https://www.taxtmi.com/caselaws?id=177841 The Tribunal partially allowed the appeal against the trading addition of unverifiable purchases for the assessment year 2007-08. It limited the addition to Rs. 40,000, considering the absence of closing balances in the parties' accounts and comparing it to a previous case. The Tribunal found the gross profit rates and sales figures justified this reduced amount, diverging from the earlier decisions of the AO and CIT(A) who had upheld the higher addition. The judgment was delivered by the ITAT Jaipur on 25-01-2012. en-us Wed, 25 Jan 2012 00:00:00 +0530 Wed, 17 Feb 2016 19:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177841 The Tribunal partially allowed the appeal against the trading addition of unverifiable purchases for the assessment year 2007-08. It limited the addition to Rs. 40,000, considering the absence of closing balances in the parties' accounts and comparing it to a previous case. The Tribunal found the gross profit rates and sales figures justified this reduced amount, diverging from the earlier decisions of the AO and CIT(A) who had upheld the higher addition. The judgment was delivered by the ITAT Jaipur on 25-01-2012. Case-Laws Income Tax Wed, 25 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177841