https://www.taxtmi.com/caselaws?id=372677 The appeal filed by the assessee against the addition of non-genuine purchases for the assessment year 2010-11 was dismissed. The Court upheld the addition of Rs. 3,35,062 on account of non-genuine purchases, considering that while the entire purchases could not be disallowed, the profit element embedded in such purchases could be considered for addition. The Court found the CIT(A)'s decision to restrict the disallowance to 12.5% of the purchases reasonable, as the assessee failed to adequately prove the genuineness of the purchases, leading to the dismissal of the appeal. en-us Wed, 14 Nov 2018 00:00:00 +0530 Thu, 27 Dec 2018 16:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372677 The appeal filed by the assessee against the addition of non-genuine purchases for the assessment year 2010-11 was dismissed. The Court upheld the addition of Rs. 3,35,062 on account of non-genuine purchases, considering that while the entire purchases could not be disallowed, the profit element embedded in such purchases could be considered for addition. The Court found the CIT(A)'s decision to restrict the disallowance to 12.5% of the purchases reasonable, as the assessee failed to adequately prove the genuineness of the purchases, leading to the dismissal of the appeal. Case-Laws Income Tax Wed, 14 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372677