https://www.taxtmi.com/caselaws?id=406212 The Tribunal upheld the decision to restrict the disallowance on account of bogus purchases to 12.5% of the value, citing the absence of appeal from the assessee and the insignificant amount involved. The Tribunal considered only the profit element taxable, as the sales were not disputed by the Revenue, ultimately dismissing the Revenue's appeal. en-us Wed, 17 Feb 2021 00:00:00 +0530 Fri, 09 Apr 2021 07:57:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406212 The Tribunal upheld the decision to restrict the disallowance on account of bogus purchases to 12.5% of the value, citing the absence of appeal from the assessee and the insignificant amount involved. The Tribunal considered only the profit element taxable, as the sales were not disputed by the Revenue, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 17 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406212