https://www.taxtmi.com/caselaws?id=200565 The ITAT partly allowed the appeal, directing the AO to re-examine certain issues based on additional evidence and pending judgments. The decision stressed the importance of past history and proper verification of records in establishing the authenticity of transactions. The trading addition on bogus purchases was significantly reduced, with the ITAT supporting the assessee's documentation for certain transactions. Disallowances on sales commission and foreign traveling expenses were adjusted, and the deletion of addition under section 40(a)(ia) was upheld. The ITAT also directed reconsideration of the G.P. rate applied and the disallowance of commission paid to four parties. en-us Sat, 17 Dec 2016 00:00:00 +0530 Thu, 05 Apr 2018 08:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200565 The ITAT partly allowed the appeal, directing the AO to re-examine certain issues based on additional evidence and pending judgments. The decision stressed the importance of past history and proper verification of records in establishing the authenticity of transactions. The trading addition on bogus purchases was significantly reduced, with the ITAT supporting the assessee's documentation for certain transactions. Disallowances on sales commission and foreign traveling expenses were adjusted, and the deletion of addition under section 40(a)(ia) was upheld. The ITAT also directed reconsideration of the G.P. rate applied and the disallowance of commission paid to four parties. Case-Laws Income Tax Sat, 17 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200565