https://www.taxtmi.com/caselaws?id=393542 The Tribunal partly allowed the appeal, confirming an addition of Rs. 19,20,183/- for certain purchases while deleting the rest of the additions. The reassessment proceedings were deemed valid as they related to the original issue of booking bogus purchases. The retraction of statements by a different person was disregarded. The Tribunal rejected the peak credit method for calculating additions, opting for an adhoc estimated addition method instead. en-us Mon, 16 Mar 2020 00:00:00 +0530 Wed, 18 Mar 2020 12:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393542 The Tribunal partly allowed the appeal, confirming an addition of Rs. 19,20,183/- for certain purchases while deleting the rest of the additions. The reassessment proceedings were deemed valid as they related to the original issue of booking bogus purchases. The retraction of statements by a different person was disregarded. The Tribunal rejected the peak credit method for calculating additions, opting for an adhoc estimated addition method instead. Case-Laws Income Tax Mon, 16 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393542