https://www.taxtmi.com/caselaws?id=190814 The ITAT dismissed the revenue's appeals for the assessment years 2010-2011 and 2011-2012, upholding the CIT(A)'s decision to partially delete the addition of alleged bogus purchases. The ITAT emphasized the genuine nature of the purchases, considering factors such as consistent growth in the assessee's gross profit, legitimate business purposes for the purchases, and lack of concrete evidence to prove otherwise. Legal precedents were cited to support the conclusion that the purchases were genuine, leading to the affirmation of the CIT(A)'s decision. en-us Fri, 16 Sep 2016 00:00:00 +0530 Tue, 28 Feb 2017 18:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190814 The ITAT dismissed the revenue's appeals for the assessment years 2010-2011 and 2011-2012, upholding the CIT(A)'s decision to partially delete the addition of alleged bogus purchases. The ITAT emphasized the genuine nature of the purchases, considering factors such as consistent growth in the assessee's gross profit, legitimate business purposes for the purchases, and lack of concrete evidence to prove otherwise. Legal precedents were cited to support the conclusion that the purchases were genuine, leading to the affirmation of the CIT(A)'s decision. Case-Laws Income Tax Fri, 16 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190814