https://www.taxtmi.com/caselaws?id=407543 The ITAT Mumbai partially allowed the appeal filed by the assessee against the disallowance of non-genuine purchases amounting to Rs. 97,33,680. The Tribunal limited the disallowance to 5% of the non-genuine purchases, considering the normal profit rate for traders in non-ferrous metal. The assessing officer was directed to give credit for advance tax paid by the assessee and verify the facts and materials on record. The appeal was partly allowed, with the decision pronounced on 25/02/2021. en-us Thu, 25 Feb 2021 00:00:00 +0530 Fri, 14 May 2021 08:32:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407543 The ITAT Mumbai partially allowed the appeal filed by the assessee against the disallowance of non-genuine purchases amounting to Rs. 97,33,680. The Tribunal limited the disallowance to 5% of the non-genuine purchases, considering the normal profit rate for traders in non-ferrous metal. The assessing officer was directed to give credit for advance tax paid by the assessee and verify the facts and materials on record. The appeal was partly allowed, with the decision pronounced on 25/02/2021. Case-Laws Income Tax Thu, 25 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407543