https://www.taxtmi.com/caselaws?id=394633 The Appellate Tribunal ITAT Mumbai upheld the decision of the Ld. Commissioner of Income Tax (Appeals) to restrict the addition made by the Assessing Officer to 12.5% of alleged bogus purchases. The Tribunal found the evidence provided by the assessee, including bank statements and purchase bills, to be genuine and sufficient. It dismissed the revenue's appeal, considering the lack of conclusive evidence and the fairness of the Ld.CIT(A)'s decision in line with established practices. en-us Fri, 07 Feb 2020 00:00:00 +0530 Sat, 18 Apr 2020 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394633 The Appellate Tribunal ITAT Mumbai upheld the decision of the Ld. Commissioner of Income Tax (Appeals) to restrict the addition made by the Assessing Officer to 12.5% of alleged bogus purchases. The Tribunal found the evidence provided by the assessee, including bank statements and purchase bills, to be genuine and sufficient. It dismissed the revenue's appeal, considering the lack of conclusive evidence and the fairness of the Ld.CIT(A)'s decision in line with established practices. Case-Laws Income Tax Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394633