https://www.taxtmi.com/caselaws?id=340445 The ITAT allowed the appellant's appeal in part, directing a 15% disallowance out of the total impugned purchases to balance justice and industry norms. The disallowance of purchases as bogus was overturned due to the impractical gross profit margin resulting from undisputed sales receipts. The second ground of appeal was dismissed, and the revenue's appeal was allowed for statistical purposes. The CIT-A's decision to uphold the disallowance was overturned in favor of the appellant. en-us Wed, 15 Mar 2017 00:00:00 +0530 Wed, 22 Mar 2017 08:11:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340445 The ITAT allowed the appellant's appeal in part, directing a 15% disallowance out of the total impugned purchases to balance justice and industry norms. The disallowance of purchases as bogus was overturned due to the impractical gross profit margin resulting from undisputed sales receipts. The second ground of appeal was dismissed, and the revenue's appeal was allowed for statistical purposes. The CIT-A's decision to uphold the disallowance was overturned in favor of the appellant. Case-Laws Income Tax Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340445