https://www.taxtmi.com/caselaws?id=355543 The tribunal upheld the CIT(A)'s decision to restrict the addition on account of bogus purchases and commission expenses. It confirmed that purchases from non-genuine parties should only be taxed on the profit element. The tribunal also agreed with the CIT(A) that estimated commission expenses without evidence are not valid. Additionally, the tribunal supported the CIT(A)'s deletion of the disallowance under section 14A, as there was no material from the search leading to the disallowance. The appeal by the AO was dismissed, and the order was issued on 7th February 2018. en-us Wed, 07 Feb 2018 00:00:00 +0530 Thu, 15 Feb 2018 09:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355543 The tribunal upheld the CIT(A)'s decision to restrict the addition on account of bogus purchases and commission expenses. It confirmed that purchases from non-genuine parties should only be taxed on the profit element. The tribunal also agreed with the CIT(A) that estimated commission expenses without evidence are not valid. Additionally, the tribunal supported the CIT(A)'s deletion of the disallowance under section 14A, as there was no material from the search leading to the disallowance. The appeal by the AO was dismissed, and the order was issued on 7th February 2018. Case-Laws Income Tax Wed, 07 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355543