https://www.taxtmi.com/caselaws?id=196524 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, deleting the 5% addition on account of bogus purchases. It emphasized considering the profit margin embedded in purchases rather than adding the entire amount as income. The Tribunal held that the addition should be restricted to the profit margin, aligning with various High Court judgments. The Tribunal found no substantive reason to sustain the 5% addition on bogus purchases in the assessee's appeal, leading to its deletion. en-us Wed, 30 Aug 2017 00:00:00 +0530 Mon, 04 Dec 2017 21:08:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196524 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, deleting the 5% addition on account of bogus purchases. It emphasized considering the profit margin embedded in purchases rather than adding the entire amount as income. The Tribunal held that the addition should be restricted to the profit margin, aligning with various High Court judgments. The Tribunal found no substantive reason to sustain the 5% addition on bogus purchases in the assessee's appeal, leading to its deletion. Case-Laws Income Tax Wed, 30 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196524