https://www.taxtmi.com/caselaws?id=407777 The Tribunal partly allowed the appeals for the assessment years 2009-10, 2010-11, and 2011-12. It upheld the jurisdiction of the Assessing Officer (AO) for the transfer within the same city without prior notice to the assessee. Regarding additions on account of bogus purchases, the Tribunal reduced the additions by estimating the gross profit at 6%, partially allowing the appeals. Disallowance under section 14A r.w.r. 8D was restricted to the extent of exempt income earned. The addition on account of deemed rent was upheld for properties at Deolali and Ahmedabad based on previous Tribunal decisions. en-us Thu, 06 May 2021 00:00:00 +0530 Fri, 21 May 2021 13:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407777 The Tribunal partly allowed the appeals for the assessment years 2009-10, 2010-11, and 2011-12. It upheld the jurisdiction of the Assessing Officer (AO) for the transfer within the same city without prior notice to the assessee. Regarding additions on account of bogus purchases, the Tribunal reduced the additions by estimating the gross profit at 6%, partially allowing the appeals. Disallowance under section 14A r.w.r. 8D was restricted to the extent of exempt income earned. The addition on account of deemed rent was upheld for properties at Deolali and Ahmedabad based on previous Tribunal decisions. Case-Laws Income Tax Thu, 06 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407777