https://www.taxtmi.com/caselaws?id=404687 The Tribunal upheld the decision of the Ld. CIT(A) to restrict the addition to 12.5% of alleged bogus purchases, estimating the profit element. The appeal of the revenue was dismissed, confirming the decision to tax only the profit element in such purchases. The order provided partial relief to the assessee, with the Tribunal finding no issues with the Ld. CIT(A)'s approach based on judicial precedents. en-us Wed, 03 Feb 2021 00:00:00 +0530 Fri, 26 Feb 2021 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404687 The Tribunal upheld the decision of the Ld. CIT(A) to restrict the addition to 12.5% of alleged bogus purchases, estimating the profit element. The appeal of the revenue was dismissed, confirming the decision to tax only the profit element in such purchases. The order provided partial relief to the assessee, with the Tribunal finding no issues with the Ld. CIT(A)'s approach based on judicial precedents. Case-Laws Income Tax Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404687