https://www.taxtmi.com/caselaws?id=344129 The ITAT Pune partially allowed the assessee's appeal. The disallowance of depreciation was overturned after the assessee submitted additional evidence of fixed assets purchased. The ITAT directed the Assessing Officer to verify and allow depreciation. In terms of the addition on account of inflated purchases, the ITAT restricted the addition and instructed applying a GP rate of 10% on the goods purchased. The appeal was partly allowed, with the ITAT issuing the order on June 7, 2017. en-us Wed, 07 Jun 2017 00:00:00 +0530 Fri, 09 Jun 2017 05:36:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344129 The ITAT Pune partially allowed the assessee's appeal. The disallowance of depreciation was overturned after the assessee submitted additional evidence of fixed assets purchased. The ITAT directed the Assessing Officer to verify and allow depreciation. In terms of the addition on account of inflated purchases, the ITAT restricted the addition and instructed applying a GP rate of 10% on the goods purchased. The appeal was partly allowed, with the ITAT issuing the order on June 7, 2017. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344129