https://www.taxtmi.com/caselaws?id=329339 The Tribunal's decision to treat purchases as wholly bogus and add the entire cost to income was deemed incorrect. Following legal principles, the disallowance was restricted to 25% of the cost of purchases for each year, balancing in favor of both the assessee and revenue. Consequently, the impugned order was modified, and the appeals were allowed partially. en-us Wed, 22 Jun 2016 00:00:00 +0530 Mon, 01 Jun 2026 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329339 The Tribunal's decision to treat purchases as wholly bogus and add the entire cost to income was deemed incorrect. Following legal principles, the disallowance was restricted to 25% of the cost of purchases for each year, balancing in favor of both the assessee and revenue. Consequently, the impugned order was modified, and the appeals were allowed partially. Case-Laws Income Tax Wed, 22 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329339