https://www.taxtmi.com/caselaws?id=404219 The Tribunal dismissed the revenue's appeal, upholding the decision to restrict the addition to 13.71% of alleged bogus purchases. Emphasizing judicial precedents, only the profit element embedded in such purchases should be taxed, not the entire amount. This approach ensures a fair assessment, considering grey market purchases and preventing undue tax burdens on the assessee. en-us Wed, 03 Feb 2021 00:00:00 +0530 Fri, 19 Feb 2021 10:35:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404219 The Tribunal dismissed the revenue's appeal, upholding the decision to restrict the addition to 13.71% of alleged bogus purchases. Emphasizing judicial precedents, only the profit element embedded in such purchases should be taxed, not the entire amount. This approach ensures a fair assessment, considering grey market purchases and preventing undue tax burdens on the assessee. Case-Laws Income Tax Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404219