https://www.taxtmi.com/caselaws?id=356211 The tribunal partly allowed the appeals against the ld. CIT(A)'s order for AY 2009-10, 2010-11, and 2011-12 under the IT Act. The disallowance of purchases was reduced from 25% to 5% by the tribunal, considering the VAT rate and the need for real income taxation. The tribunal also deleted the addition of 1% commission on purchases due to lack of substantiation. The rejection of books of account was partially sustained, with discussions on this ground being deemed academic. The principle of consistency guided the decisions for AY 2010-11 and 2011-12. en-us Fri, 16 Feb 2018 00:00:00 +0530 Mon, 26 Feb 2018 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356211 The tribunal partly allowed the appeals against the ld. CIT(A)'s order for AY 2009-10, 2010-11, and 2011-12 under the IT Act. The disallowance of purchases was reduced from 25% to 5% by the tribunal, considering the VAT rate and the need for real income taxation. The tribunal also deleted the addition of 1% commission on purchases due to lack of substantiation. The rejection of books of account was partially sustained, with discussions on this ground being deemed academic. The principle of consistency guided the decisions for AY 2010-11 and 2011-12. Case-Laws Income Tax Fri, 16 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356211