https://www.taxtmi.com/caselaws?id=407420 The appeal filed by the revenue challenging the restriction of addition to 12.5% of bogus purchases and the deletion of disallowance under Section 14A read with Rule 8D was dismissed. The ITAT upheld the CIT(A)'s decisions, ruling in favor of the assessee against the revenue. The CIT(A)'s reasoning, based on the business model of the assessee and proper application of relevant legal provisions, was found to be justifiable and correct. en-us Wed, 07 Apr 2021 00:00:00 +0530 Tue, 11 May 2021 08:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407420 The appeal filed by the revenue challenging the restriction of addition to 12.5% of bogus purchases and the deletion of disallowance under Section 14A read with Rule 8D was dismissed. The ITAT upheld the CIT(A)'s decisions, ruling in favor of the assessee against the revenue. The CIT(A)'s reasoning, based on the business model of the assessee and proper application of relevant legal provisions, was found to be justifiable and correct. Case-Laws Income Tax Wed, 07 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407420