https://www.taxtmi.com/caselaws?id=398647 The Appellate Tribunal ITAT Mumbai partially allowed the appeal and cross objection concerning the quashing of the AO's order under section 143(3), deletion of addition for unallowable interest expense, and the disallowance of Rs. 64,89,180 as part of alleged purchases. The Tribunal upheld the CIT(A)'s decision based on the assessee's explanations and legal precedents cited, restricting the disallowance to the specified amount. The Tribunal emphasized the principle that purchases cannot be rejected without affecting sales, citing relevant court cases for consistency in such matters. en-us Thu, 17 Sep 2020 00:00:00 +0530 Mon, 21 Sep 2020 11:57:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398647 The Appellate Tribunal ITAT Mumbai partially allowed the appeal and cross objection concerning the quashing of the AO's order under section 143(3), deletion of addition for unallowable interest expense, and the disallowance of Rs. 64,89,180 as part of alleged purchases. The Tribunal upheld the CIT(A)'s decision based on the assessee's explanations and legal precedents cited, restricting the disallowance to the specified amount. The Tribunal emphasized the principle that purchases cannot be rejected without affecting sales, citing relevant court cases for consistency in such matters. Case-Laws Income Tax Thu, 17 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398647