https://www.taxtmi.com/caselaws?id=407372 The ITAT upheld the decision of the Ld. CIT(A) and dismissed the revenue's appeal regarding alleged bogus purchases for the Assessment Year 2009-10. The Ld. CIT(A) accepted a portion of the purchases, estimating an addition for the remaining amount based on a Gujarat High Court decision. The ITAT found the estimation reasonable, considering the available primary purchase documents, banking channel payments, and the nature of the assessee's business. The appeal outcome favored the assessee, confirming the fair and reasonable 12.5% addition and rejecting the revenue's challenge. en-us Mon, 03 May 2021 00:00:00 +0530 Sat, 08 May 2021 08:18:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407372 The ITAT upheld the decision of the Ld. CIT(A) and dismissed the revenue's appeal regarding alleged bogus purchases for the Assessment Year 2009-10. The Ld. CIT(A) accepted a portion of the purchases, estimating an addition for the remaining amount based on a Gujarat High Court decision. The ITAT found the estimation reasonable, considering the available primary purchase documents, banking channel payments, and the nature of the assessee's business. The appeal outcome favored the assessee, confirming the fair and reasonable 12.5% addition and rejecting the revenue's challenge. Case-Laws Income Tax Mon, 03 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407372