https://www.taxtmi.com/caselaws?id=349436 The Tribunal partially allowed the assessee's appeal by directing the AO to make a reasonable disallowance of 12.5% of alleged bogus purchases. The claim of retention money was allowed to the extent of Rs. 2,12,22,495/-, following precedents. The issue of interest disallowance under section 40(a)(ia) was remanded for verification. The claim of TDS on VAT was allowed in part, with Rs. 39,87,561/- deemed admissible. The disallowance for late payment of employees' PF contribution was deleted, in line with relevant case law. The Tribunal's decision favored the assessee on multiple grounds, providing detailed reasoning for each issue. en-us Mon, 09 Oct 2017 00:00:00 +0530 Fri, 13 Oct 2017 09:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349436 The Tribunal partially allowed the assessee's appeal by directing the AO to make a reasonable disallowance of 12.5% of alleged bogus purchases. The claim of retention money was allowed to the extent of Rs. 2,12,22,495/-, following precedents. The issue of interest disallowance under section 40(a)(ia) was remanded for verification. The claim of TDS on VAT was allowed in part, with Rs. 39,87,561/- deemed admissible. The disallowance for late payment of employees' PF contribution was deleted, in line with relevant case law. The Tribunal's decision favored the assessee on multiple grounds, providing detailed reasoning for each issue. Case-Laws Income Tax Mon, 09 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349436