https://www.taxtmi.com/caselaws?id=348536 The Court dismissed the Revenue's appeal against the ITAT order for AY 2000-01, which questioned the deletion of additions totaling &8377;16,34,83,676/- and &8377;61,69,546/- by the AO. The AO alleged bogus purchases and export sales under Section 68 of the Income Tax Act, based on transactions with alleged bogus entities. Despite a notice under Section 148 and a DRI report, the AO did not inquire into the transactions. The CIT(A) restricted the additions to peak credits. The Court upheld the ITAT's decision, finding no legal infirmity and stating no substantial question of law arose for consideration. en-us Thu, 14 Sep 2017 00:00:00 +0530 Sat, 23 Sep 2017 10:41:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348536 The Court dismissed the Revenue's appeal against the ITAT order for AY 2000-01, which questioned the deletion of additions totaling &8377;16,34,83,676/- and &8377;61,69,546/- by the AO. The AO alleged bogus purchases and export sales under Section 68 of the Income Tax Act, based on transactions with alleged bogus entities. Despite a notice under Section 148 and a DRI report, the AO did not inquire into the transactions. The CIT(A) restricted the additions to peak credits. The Court upheld the ITAT's decision, finding no legal infirmity and stating no substantial question of law arose for consideration. Case-Laws Income Tax Thu, 14 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348536