https://www.taxtmi.com/caselaws?id=355780 The tribunal upheld the decision to restrict the disallowance of bogus purchases to 12.5% based on the profit element involved in the transactions. The tribunal recognized the necessity of purchases for sales in the trading business and found the Ld. CIT (A)'s decision appropriate in this context. The Revenue's appeal was ultimately dismissed. en-us Fri, 04 Aug 2017 00:00:00 +0530 Sat, 17 Feb 2018 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355780 The tribunal upheld the decision to restrict the disallowance of bogus purchases to 12.5% based on the profit element involved in the transactions. The tribunal recognized the necessity of purchases for sales in the trading business and found the Ld. CIT (A)'s decision appropriate in this context. The Revenue's appeal was ultimately dismissed. Case-Laws Income Tax Fri, 04 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355780