https://www.taxtmi.com/caselaws?id=346690 The ITAT partially allowed the appeal, directing the AO to tax only the profit element on alleged bogus purchases and to verify the reconciliation filed by the appellant regarding differences in credit balances. The ITAT stressed the need for further evidence and thorough verification in assessing such matters, aiming for fairness and accuracy in determining the appellant's taxable income. en-us Fri, 28 Jul 2017 00:00:00 +0530 Tue, 22 Aug 2017 06:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346690 The ITAT partially allowed the appeal, directing the AO to tax only the profit element on alleged bogus purchases and to verify the reconciliation filed by the appellant regarding differences in credit balances. The ITAT stressed the need for further evidence and thorough verification in assessing such matters, aiming for fairness and accuracy in determining the appellant's taxable income. Case-Laws Income Tax Fri, 28 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346690