https://www.taxtmi.com/caselaws?id=348584 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross objection, directing the addition of 8% profit from alleged bogus purchases to be reduced from the work in progress value instead of being assessed during the relevant year. The Tribunal emphasized the importance of considering the profit element in such cases and adjusting it appropriately. en-us Thu, 31 Aug 2017 00:00:00 +0530 Mon, 25 Sep 2017 07:20:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348584 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross objection, directing the addition of 8% profit from alleged bogus purchases to be reduced from the work in progress value instead of being assessed during the relevant year. The Tribunal emphasized the importance of considering the profit element in such cases and adjusting it appropriately. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348584