https://www.taxtmi.com/caselaws?id=360818 The ITAT remanded the major addition of Rs. 4.52 crores for fresh determination, deleted the addition of Rs. 1,08,003 due to satisfactory explanation, and consistently applied legal principles to delete other additions under section 41(1) and for bogus purchases. The Tribunal emphasized the importance of concrete evidence and proper reconciliation of accounts, highlighting procedural fairness in tax assessments. en-us Fri, 18 May 2018 00:00:00 +0530 Wed, 23 May 2018 07:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360818 The ITAT remanded the major addition of Rs. 4.52 crores for fresh determination, deleted the addition of Rs. 1,08,003 due to satisfactory explanation, and consistently applied legal principles to delete other additions under section 41(1) and for bogus purchases. The Tribunal emphasized the importance of concrete evidence and proper reconciliation of accounts, highlighting procedural fairness in tax assessments. Case-Laws Income Tax Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360818