https://www.taxtmi.com/caselaws?id=389434 The Tribunal dismissed the revenue's appeal for Assessment Year 2009-10, upholding the 15% income estimation due to the assessee's failure to confirm transactions related to alleged bogus purchases. Despite possessing primary purchase documents and using banking channels for payments, the inability to produce suppliers to verify transactions led to the onus remaining undischarged. The Tribunal found the estimation reasonable given the nature of the business, resulting in the appeal dismissal and affirmation of the lower authority's decision to make income additions based on suspicious purchases. en-us Tue, 03 Dec 2019 00:00:00 +0530 Sat, 07 Dec 2019 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389434 The Tribunal dismissed the revenue's appeal for Assessment Year 2009-10, upholding the 15% income estimation due to the assessee's failure to confirm transactions related to alleged bogus purchases. Despite possessing primary purchase documents and using banking channels for payments, the inability to produce suppliers to verify transactions led to the onus remaining undischarged. The Tribunal found the estimation reasonable given the nature of the business, resulting in the appeal dismissal and affirmation of the lower authority's decision to make income additions based on suspicious purchases. Case-Laws Income Tax Tue, 03 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389434