https://www.taxtmi.com/caselaws?id=329465 The court ruled in favor of the assessee, directing a deduction at 75% of the purchase expenditure instead of disallowing the entire amount. The court found errors in the ITAT's decisions regarding the disallowance of purchase expenditure treated as bogus and unexplained fictitious purchases/creditors. The court referenced previous cases to justify the deduction and emphasized that the purchases were legitimate despite discrepancies in billing. The judgment was unanimous, with no separate opinions mentioned. en-us Thu, 16 Jun 2016 00:00:00 +0530 Sat, 30 Jul 2016 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329465 The court ruled in favor of the assessee, directing a deduction at 75% of the purchase expenditure instead of disallowing the entire amount. The court found errors in the ITAT's decisions regarding the disallowance of purchase expenditure treated as bogus and unexplained fictitious purchases/creditors. The court referenced previous cases to justify the deduction and emphasized that the purchases were legitimate despite discrepancies in billing. The judgment was unanimous, with no separate opinions mentioned. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329465