https://www.taxtmi.com/caselaws?id=407239 The tribunal allowed the assessee's appeal regarding alleged bogus purchases, directing an addition of 3% of the tainted purchases for two assessment years. The disallowance of labor charges for converting rough diamonds was deleted for both years, emphasizing the necessity of such charges for the business. The revenue's appeals were dismissed, and the assessee's cross-objections were partly allowed in a decision pronounced on 3rd May 2021. en-us Mon, 03 May 2021 00:00:00 +0530 Tue, 04 May 2021 08:53:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407239 The tribunal allowed the assessee's appeal regarding alleged bogus purchases, directing an addition of 3% of the tainted purchases for two assessment years. The disallowance of labor charges for converting rough diamonds was deleted for both years, emphasizing the necessity of such charges for the business. The revenue's appeals were dismissed, and the assessee's cross-objections were partly allowed in a decision pronounced on 3rd May 2021. Case-Laws Income Tax Mon, 03 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407239