https://www.taxtmi.com/caselaws?id=350374 The Tribunal partially allowed the appeal, directing a 12.5% disallowance of the claimed amount for bogus purchases made from non-existent parties. The decision was based on the lack of evidence provided by the assessee to prove the genuineness of the transactions, with confirmation of the parties' dubious nature by the Sales Tax Department. The Tribunal considered a 100% disallowance inappropriate due to no doubts on sales but deemed a 12.5% disallowance appropriate for tax evasion through grey market purchases. en-us Wed, 01 Nov 2017 00:00:00 +0530 Sat, 04 Nov 2017 08:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350374 The Tribunal partially allowed the appeal, directing a 12.5% disallowance of the claimed amount for bogus purchases made from non-existent parties. The decision was based on the lack of evidence provided by the assessee to prove the genuineness of the transactions, with confirmation of the parties' dubious nature by the Sales Tax Department. The Tribunal considered a 100% disallowance inappropriate due to no doubts on sales but deemed a 12.5% disallowance appropriate for tax evasion through grey market purchases. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350374