https://www.taxtmi.com/caselaws?id=352516 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to add 12.5% of the disputed purchases to the assessee's income for the Assessment Year 2011-12. Despite arguments on legal principles and transaction genuineness, the Tribunal found the addition justified due to the lack of proof of authenticity. The appeal challenging the addition was dismissed, affirming the income adjustment based on the profit element in the alleged bogus purchases. en-us Mon, 23 Oct 2017 00:00:00 +0530 Sat, 16 Dec 2017 10:32:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352516 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to add 12.5% of the disputed purchases to the assessee's income for the Assessment Year 2011-12. Despite arguments on legal principles and transaction genuineness, the Tribunal found the addition justified due to the lack of proof of authenticity. The appeal challenging the addition was dismissed, affirming the income adjustment based on the profit element in the alleged bogus purchases. Case-Laws Income Tax Mon, 23 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352516