https://www.taxtmi.com/caselaws?id=275761 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. It directed the AO to apply a 10% gross profit rate on the disputed purchases and deleted the addition based on peak credit. The decision stressed the importance of concrete evidence to demonstrate the return of payments to the assessee for categorizing purchases as bogus. en-us Tue, 17 May 2016 00:00:00 +0530 Tue, 16 Oct 2018 05:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275761 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. It directed the AO to apply a 10% gross profit rate on the disputed purchases and deleted the addition based on peak credit. The decision stressed the importance of concrete evidence to demonstrate the return of payments to the assessee for categorizing purchases as bogus. Case-Laws Income Tax Tue, 17 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275761