https://www.taxtmi.com/caselaws?id=349575 The Gujarat High Court dismissed the Tax Appeals, upholding the decision of the Income Tax Appellate Tribunal to restrict the Net Profit (NP) to 2% in a case involving certain bogus purchases. The Court found no substantial question of law, emphasizing that the dispute centered on factual assessment rather than legal interpretation. The judgment highlighted the importance of factual evaluation in tax cases and reiterated the principle that appellate courts should avoid intervening in purely factual matters unless a significant legal issue arises. en-us Tue, 19 Sep 2017 00:00:00 +0530 Tue, 17 Oct 2017 08:52:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349575 The Gujarat High Court dismissed the Tax Appeals, upholding the decision of the Income Tax Appellate Tribunal to restrict the Net Profit (NP) to 2% in a case involving certain bogus purchases. The Court found no substantial question of law, emphasizing that the dispute centered on factual assessment rather than legal interpretation. The judgment highlighted the importance of factual evaluation in tax cases and reiterated the principle that appellate courts should avoid intervening in purely factual matters unless a significant legal issue arises. Case-Laws Income Tax Tue, 19 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349575