https://www.taxtmi.com/caselaws?id=398573 The ITAT allowed the appeal by the assessee, setting aside the Principal Commissioner's order under section 263 of the Income-tax Act, 1961. The Tribunal determined that the AO's decision to tax only the profit element of bogus purchases was a plausible view and not erroneous, aligning with the jurisdictional High Court's judgment. en-us Wed, 16 Sep 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398573 The ITAT allowed the appeal by the assessee, setting aside the Principal Commissioner's order under section 263 of the Income-tax Act, 1961. The Tribunal determined that the AO's decision to tax only the profit element of bogus purchases was a plausible view and not erroneous, aligning with the jurisdictional High Court's judgment. Case-Laws Income Tax Wed, 16 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398573