https://www.taxtmi.com/caselaws?id=382327 The cross appeals by the assessee and Revenue regarding disallowance of bogus purchases for assessment years 2010-11 and 2011-12 were adjudicated. The Tribunal remanded the matter to the Assessing Officer for reconsideration, emphasizing that disallowance should be based on a comparison of gross profit rates on genuine and hawala purchases rather than an ad-hoc basis. Both appeals by the assessee for the years 2010-11 and 2011-12 were allowed for statistical purposes, while the Revenue's cross appeals were dismissed. en-us Thu, 27 Jun 2019 00:00:00 +0530 Mon, 01 Jul 2019 07:48:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382327 The cross appeals by the assessee and Revenue regarding disallowance of bogus purchases for assessment years 2010-11 and 2011-12 were adjudicated. The Tribunal remanded the matter to the Assessing Officer for reconsideration, emphasizing that disallowance should be based on a comparison of gross profit rates on genuine and hawala purchases rather than an ad-hoc basis. Both appeals by the assessee for the years 2010-11 and 2011-12 were allowed for statistical purposes, while the Revenue's cross appeals were dismissed. Case-Laws Income Tax Thu, 27 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382327