https://www.taxtmi.com/caselaws?id=285933 The ITAT concluded that the purchases from M/s Olive Overseas Pvt. Ltd. were bogus, and the assessee likely made purchases from the open/grey market. The addition in the hands of the assessee was restricted to 4% of the total bogus purchases, modifying the CIT(A)'s addition of 6%. The appeal of the assessee was partly allowed, and the appeal of the revenue was dismissed. en-us Fri, 27 Oct 2017 00:00:00 +0530 Tue, 04 Feb 2020 08:18:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285933 The ITAT concluded that the purchases from M/s Olive Overseas Pvt. Ltd. were bogus, and the assessee likely made purchases from the open/grey market. The addition in the hands of the assessee was restricted to 4% of the total bogus purchases, modifying the CIT(A)'s addition of 6%. The appeal of the assessee was partly allowed, and the appeal of the revenue was dismissed. Case-Laws Income Tax Fri, 27 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285933