https://www.taxtmi.com/caselaws?id=187419 The ITAT upheld the CIT(A)'s decision to adjust the NP rate to 2% of turnover instead of disallowing 15% of unregistered dealer purchases, as the AO lacked evidence of inflated purchases. Additionally, the ITAT affirmed the deletion of the addition for unexplained sundry creditors, as these were trade credits settled in the subsequent year. The Revenue's appeal was dismissed, and the CIT(A)'s decisions on both issues were upheld. en-us Fri, 27 May 2016 00:00:00 +0530 Thu, 20 Oct 2016 16:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187419 The ITAT upheld the CIT(A)'s decision to adjust the NP rate to 2% of turnover instead of disallowing 15% of unregistered dealer purchases, as the AO lacked evidence of inflated purchases. Additionally, the ITAT affirmed the deletion of the addition for unexplained sundry creditors, as these were trade credits settled in the subsequent year. The Revenue's appeal was dismissed, and the CIT(A)'s decisions on both issues were upheld. Case-Laws Income Tax Fri, 27 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187419