https://www.taxtmi.com/caselaws?id=348458 The Appellate Tribunal upheld the First Appellate Authority's decision, rejecting the Assessing Officer's disallowance of alleged bogus purchases and addition to total income under unexplained expenditure. The Tribunal emphasized the importance of a detailed analysis before invoking deeming provisions like section 69C of the Act. It supported the estimation of profit at 12.5% of total purchases for assessment purposes, providing relief to the assessee and dismissing the appeal filed by the AO. en-us Tue, 22 Aug 2017 00:00:00 +0530 Fri, 22 Sep 2017 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348458 The Appellate Tribunal upheld the First Appellate Authority's decision, rejecting the Assessing Officer's disallowance of alleged bogus purchases and addition to total income under unexplained expenditure. The Tribunal emphasized the importance of a detailed analysis before invoking deeming provisions like section 69C of the Act. It supported the estimation of profit at 12.5% of total purchases for assessment purposes, providing relief to the assessee and dismissing the appeal filed by the AO. Case-Laws Income Tax Tue, 22 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348458