https://www.taxtmi.com/caselaws?id=405347 The Tribunal set aside the CIT(A)'s decision to confirm the ad-hoc disallowance of trading purchases as non-genuine and directed the Assessing Officer to restrict additions based on the GP rate on disputed purchases. The Tribunal applied principles from a previous case to emphasize the importance of not rejecting purchases without affecting sales, allowing the appeals for statistical purposes for the relevant assessment years. en-us Tue, 16 Mar 2021 00:00:00 +0530 Thu, 18 Mar 2021 09:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405347 The Tribunal set aside the CIT(A)'s decision to confirm the ad-hoc disallowance of trading purchases as non-genuine and directed the Assessing Officer to restrict additions based on the GP rate on disputed purchases. The Tribunal applied principles from a previous case to emphasize the importance of not rejecting purchases without affecting sales, allowing the appeals for statistical purposes for the relevant assessment years. Case-Laws Income Tax Tue, 16 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405347