https://www.taxtmi.com/caselaws?id=359091 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to limit the addition to 2% of the alleged bogus purchases for the assessment years 2009-10, 2010-11, and 2011-12. The ITAT partially allowed the assessee's appeals based on the lack of conclusive evidence to support the disallowance of purchases, emphasizing the need for further investigation beyond mere suspicion. The decision aligned with established judicial precedents restricting additions in similar cases, ultimately favoring the assessee's position. en-us Fri, 20 Apr 2018 00:00:00 +0530 Tue, 24 Apr 2018 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359091 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to limit the addition to 2% of the alleged bogus purchases for the assessment years 2009-10, 2010-11, and 2011-12. The ITAT partially allowed the assessee's appeals based on the lack of conclusive evidence to support the disallowance of purchases, emphasizing the need for further investigation beyond mere suspicion. The decision aligned with established judicial precedents restricting additions in similar cases, ultimately favoring the assessee's position. Case-Laws Income Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359091