https://www.taxtmi.com/caselaws?id=359774 The Tribunal partly allowed the appeals filed by the assessee for the assessment years 2010-11 and 2011-12. The addition related to bogus purchases was modified to 12.5%, and the disallowed interest expenses were directed to be deleted. However, the disallowance of 20% of various expenses was upheld, and other minor disallowances were dismissed. The judgment stressed the significance of providing sufficient evidence to support claims and adhering to legal precedents in verifying transaction genuineness. en-us Wed, 25 Apr 2018 00:00:00 +0530 Fri, 04 May 2018 08:50:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359774 The Tribunal partly allowed the appeals filed by the assessee for the assessment years 2010-11 and 2011-12. The addition related to bogus purchases was modified to 12.5%, and the disallowed interest expenses were directed to be deleted. However, the disallowance of 20% of various expenses was upheld, and other minor disallowances were dismissed. The judgment stressed the significance of providing sufficient evidence to support claims and adhering to legal precedents in verifying transaction genuineness. Case-Laws Income Tax Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359774