https://www.taxtmi.com/caselaws?id=356872 The Tribunal ruled in favor of the assessee, directing the AO to delete the estimated profit on alleged unverifiable purchases for A.Y. 2010-11 and 2011-12. The Tribunal found a violation of natural justice as the AO did not provide necessary information or allow cross-examination of suppliers, deeming the profit estimation unwarranted without concrete evidence. The appeals were allowed, emphasizing the lack of evidence linking purchases to suspicious activities and criticizing the reliance on undisclosed material by the AO. en-us Fri, 08 Dec 2017 00:00:00 +0530 Wed, 14 Mar 2018 06:51:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356872 The Tribunal ruled in favor of the assessee, directing the AO to delete the estimated profit on alleged unverifiable purchases for A.Y. 2010-11 and 2011-12. The Tribunal found a violation of natural justice as the AO did not provide necessary information or allow cross-examination of suppliers, deeming the profit estimation unwarranted without concrete evidence. The appeals were allowed, emphasizing the lack of evidence linking purchases to suspicious activities and criticizing the reliance on undisclosed material by the AO. Case-Laws Income Tax Fri, 08 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356872