https://www.taxtmi.com/caselaws?id=285178 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal in a case involving alleged bogus purchases for A.Y. 2011-12. The Tribunal found the addition made by the AO under section 69C unjustified due to lack of opportunity for cross-examination and absence of corroborative evidence for the alleged bogus purchases. Emphasizing the importance of providing such opportunities and evidence, the Tribunal concluded that no further addition was warranted based on the profit rate and evidence presented by the assessee, ultimately ruling in favor of the assessee. en-us Tue, 21 Aug 2018 00:00:00 +0530 Wed, 01 Jan 2020 14:19:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285178 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal in a case involving alleged bogus purchases for A.Y. 2011-12. The Tribunal found the addition made by the AO under section 69C unjustified due to lack of opportunity for cross-examination and absence of corroborative evidence for the alleged bogus purchases. Emphasizing the importance of providing such opportunities and evidence, the Tribunal concluded that no further addition was warranted based on the profit rate and evidence presented by the assessee, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 21 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285178