https://www.taxtmi.com/caselaws?id=394637 The Appellate Tribunal upheld the decision of the Ld. Commissioner of Income Tax (Appeals) to restrict the disallowance of alleged bogus purchases to 12.5% of the total purchases, providing partial relief to the appellant. The Tribunal emphasized that in cases involving purchases from suspicious dealers, only the profit element should be taxed, not the total purchase amount. The revenue's appeal against this decision was dismissed due to lack of conclusive evidence and in accordance with previous court and tribunal decisions. en-us Fri, 07 Feb 2020 00:00:00 +0530 Sat, 18 Apr 2020 15:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394637 The Appellate Tribunal upheld the decision of the Ld. Commissioner of Income Tax (Appeals) to restrict the disallowance of alleged bogus purchases to 12.5% of the total purchases, providing partial relief to the appellant. The Tribunal emphasized that in cases involving purchases from suspicious dealers, only the profit element should be taxed, not the total purchase amount. The revenue's appeal against this decision was dismissed due to lack of conclusive evidence and in accordance with previous court and tribunal decisions. Case-Laws Income Tax Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394637