https://www.taxtmi.com/caselaws?id=281107 The HC upheld the ITAT's decision deleting the addition of the entire purchase amount as the assessee's additional income. Since the department did not dispute the assessee's sales and there was no discrepancy between purchases and sales, the Tribunal correctly held that purchases could not be rejected without affecting sales figures. The Tribunal appropriately limited the addition to adjusting the gross profit rate on purchases to match that of genuine purchases. The decision was against the Revenue. en-us Mon, 11 Feb 2019 00:00:00 +0530 Wed, 13 Aug 2025 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281107 The HC upheld the ITAT's decision deleting the addition of the entire purchase amount as the assessee's additional income. Since the department did not dispute the assessee's sales and there was no discrepancy between purchases and sales, the Tribunal correctly held that purchases could not be rejected without affecting sales figures. The Tribunal appropriately limited the addition to adjusting the gross profit rate on purchases to match that of genuine purchases. The decision was against the Revenue. Case-Laws Income Tax Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281107