https://www.taxtmi.com/caselaws?id=340869 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to add &8377;16,84,112 on account of alleged bogus purchases. The Tribunal found that the VAT Department's actions did not conclusively prove the purchases were fake, especially since VAT was collected from the assessee. Emphasizing the lack of independent findings challenging the purchases' genuineness and considering the reasonable gross profit declared by the assessee, the Tribunal concluded there was insufficient evidence to discredit the purchases. en-us Tue, 14 Mar 2017 00:00:00 +0530 Wed, 29 Mar 2017 07:08:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340869 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to add &8377;16,84,112 on account of alleged bogus purchases. The Tribunal found that the VAT Department's actions did not conclusively prove the purchases were fake, especially since VAT was collected from the assessee. Emphasizing the lack of independent findings challenging the purchases' genuineness and considering the reasonable gross profit declared by the assessee, the Tribunal concluded there was insufficient evidence to discredit the purchases. Case-Laws Income Tax Tue, 14 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340869