https://www.taxtmi.com/caselaws?id=372284 The Tribunal partly allowed the assessee's appeal, directing the Assessing Officer to reconsider the addition made under section 69C of the Income Tax Act and determine if the difference should be treated as bad debt. Additionally, the Tribunal instructed the Assessing Officer to limit the addition on account of bogus purchases to 12.5% of the disputed amount. The Tribunal also ordered the deletion of the ad-hoc disallowance of general expenses and directed the Assessing Officer to review the disallowance of set-off of brought forward business loss. en-us Wed, 19 Sep 2018 00:00:00 +0530 Wed, 19 Dec 2018 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372284 The Tribunal partly allowed the assessee's appeal, directing the Assessing Officer to reconsider the addition made under section 69C of the Income Tax Act and determine if the difference should be treated as bad debt. Additionally, the Tribunal instructed the Assessing Officer to limit the addition on account of bogus purchases to 12.5% of the disputed amount. The Tribunal also ordered the deletion of the ad-hoc disallowance of general expenses and directed the Assessing Officer to review the disallowance of set-off of brought forward business loss. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372284