https://www.taxtmi.com/caselaws?id=348461 Where purchases are found unverifiable but the books and sales are not rejected and no independent inquiry establishes that the entire purchase value represents income, only the profit element embedded in such purchases may be brought to tax; the addition was therefore restricted to 12.5%. Where the first appellate authority had not adjudicated the bad-debt ground, the matter was remitted for fresh decision after hearing the assessee. A Revenue appeal below the applicable CBDT monetary limit is not maintainable and was dismissed on that ground. en-us Wed, 13 Sep 2017 00:00:00 +0530 Fri, 22 Sep 2017 06:49:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348461 Where purchases are found unverifiable but the books and sales are not rejected and no independent inquiry establishes that the entire purchase value represents income, only the profit element embedded in such purchases may be brought to tax; the addition was therefore restricted to 12.5%. Where the first appellate authority had not adjudicated the bad-debt ground, the matter was remitted for fresh decision after hearing the assessee. A Revenue appeal below the applicable CBDT monetary limit is not maintainable and was dismissed on that ground. Case-Laws Income Tax Wed, 13 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348461