https://www.taxtmi.com/caselaws?id=197095 The Tribunal partially allowed the appeal against a trading addition related to unverifiable purchases in the assessment year 2007-08. The Tribunal held that while rejection of books of account is justified for unverifiable purchases, making additions solely on this basis is not justified. Considering past history and current events, an addition of Rs. 1 lac was deemed sufficient to address any revenue leakage, leading to the partial allowance of the appeal on 15.3.2012. en-us Thu, 15 Mar 2012 00:00:00 +0530 Tue, 26 Dec 2017 14:33:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197095 The Tribunal partially allowed the appeal against a trading addition related to unverifiable purchases in the assessment year 2007-08. The Tribunal held that while rejection of books of account is justified for unverifiable purchases, making additions solely on this basis is not justified. Considering past history and current events, an addition of Rs. 1 lac was deemed sufficient to address any revenue leakage, leading to the partial allowance of the appeal on 15.3.2012. Case-Laws Income Tax Thu, 15 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197095