https://www.taxtmi.com/caselaws?id=362356 The Tribunal partly allowed the appeal by directing the AO to estimate the profit element in alleged bogus purchases and dismissing the ground against the reopening of assessment. The decision emphasized the necessity of providing substantial evidence to substantiate transactions and the requirement to estimate profits in cases involving alleged bogus purchases, in line with established judicial precedents. en-us Wed, 20 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 23:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362356 The Tribunal partly allowed the appeal by directing the AO to estimate the profit element in alleged bogus purchases and dismissing the ground against the reopening of assessment. The decision emphasized the necessity of providing substantial evidence to substantiate transactions and the requirement to estimate profits in cases involving alleged bogus purchases, in line with established judicial precedents. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362356