https://www.taxtmi.com/caselaws?id=393330 HC upheld Tribunal and CIT(A)'s decision that, in respect of alleged bogus purchases, 17.5% of the total purchases be added as profit while the remaining addition be deleted. The court found the 17.5% profit element reasonable, noted the assessee's acceptance to close litigation, and held that Revenue produced no material to contradict CIT(A)'s findings. Relying on precedent, HC reiterated that information from sales-tax or investigation records must be furnished to the assessee for testing, and that non-appearance of suppliers before the AO does not necessarily prove purchases were nonexistent. Decision against Revenue. en-us Mon, 10 Feb 2020 00:00:00 +0530 Mon, 29 Sep 2025 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393330 HC upheld Tribunal and CIT(A)'s decision that, in respect of alleged bogus purchases, 17.5% of the total purchases be added as profit while the remaining addition be deleted. The court found the 17.5% profit element reasonable, noted the assessee's acceptance to close litigation, and held that Revenue produced no material to contradict CIT(A)'s findings. Relying on precedent, HC reiterated that information from sales-tax or investigation records must be furnished to the assessee for testing, and that non-appearance of suppliers before the AO does not necessarily prove purchases were nonexistent. Decision against Revenue. Case-Laws Income Tax Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393330