https://www.taxtmi.com/caselaws?id=405490 The tribunal allowed the appeal, setting aside the CIT(A)'s order upholding the addition on alleged non-genuine purchases. Relying on a Bombay High Court judgment, the tribunal directed the AO to restrict additions to align with the gross profit rate on genuine purchases, emphasizing the importance of consistency in gross profit rates and considering both purchases and sales in such disputes. en-us Tue, 16 Mar 2021 00:00:00 +0530 Sat, 20 Mar 2021 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405490 The tribunal allowed the appeal, setting aside the CIT(A)'s order upholding the addition on alleged non-genuine purchases. Relying on a Bombay High Court judgment, the tribunal directed the AO to restrict additions to align with the gross profit rate on genuine purchases, emphasizing the importance of consistency in gross profit rates and considering both purchases and sales in such disputes. Case-Laws Income Tax Tue, 16 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405490