https://www.taxtmi.com/caselaws?id=382304 The appeal before the ITAT Pune arose from an order by the CIT(A)-2, Aurangabad regarding the confirmation of addition on account of hawala purchases for the assessment year 2010-11. The Tribunal, following the Bombay High Court's ruling in a similar case, set aside the decision and remitted the matter back to the AO. The AO was instructed to recompute any addition based on the difference between the gross profit rate on genuine purchases and hawala purchases, allowing the assessee a fair opportunity to present their case. The appeal was allowed for statistical purposes. en-us Tue, 30 Apr 2019 00:00:00 +0530 Fri, 13 Dec 2019 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382304 The appeal before the ITAT Pune arose from an order by the CIT(A)-2, Aurangabad regarding the confirmation of addition on account of hawala purchases for the assessment year 2010-11. The Tribunal, following the Bombay High Court's ruling in a similar case, set aside the decision and remitted the matter back to the AO. The AO was instructed to recompute any addition based on the difference between the gross profit rate on genuine purchases and hawala purchases, allowing the assessee a fair opportunity to present their case. The appeal was allowed for statistical purposes. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382304