https://www.taxtmi.com/caselaws?id=373420 The ITAT partly allowed the appeal, modifying the order to exclude double jeopardy for the assessee. A 12.5% disallowance on profit from bogus purchases was considered just, reducing the gross profit offered by the assessee. The judgment emphasized the need for thorough verification of purchases to uphold fair taxation practices. en-us Fri, 07 Dec 2018 00:00:00 +0530 Sat, 12 Jan 2019 07:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373420 The ITAT partly allowed the appeal, modifying the order to exclude double jeopardy for the assessee. A 12.5% disallowance on profit from bogus purchases was considered just, reducing the gross profit offered by the assessee. The judgment emphasized the need for thorough verification of purchases to uphold fair taxation practices. Case-Laws Income Tax Fri, 07 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373420