https://www.taxtmi.com/caselaws?id=407895 The ITAT upheld the decisions of the Ld. CIT(A) for both AYs, restricting additions on suspicious purchases to 12.5%. The assessee, engaged in civil construction, faced scrutiny over alleged bogus purchases and purchases from suspicious dealers. Despite providing evidence of valid invoices and payments, unserved notices to suppliers indicated possible grey market involvement. The ITAT considered the nature of the assessee's business, documented purchases, lack of supplier confirmations, and unsatisfactory responses to notices in affirming the 12.5% restriction on additions for both assessment years. en-us Wed, 03 Feb 2021 00:00:00 +0530 Wed, 26 May 2021 08:40:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407895 The ITAT upheld the decisions of the Ld. CIT(A) for both AYs, restricting additions on suspicious purchases to 12.5%. The assessee, engaged in civil construction, faced scrutiny over alleged bogus purchases and purchases from suspicious dealers. Despite providing evidence of valid invoices and payments, unserved notices to suppliers indicated possible grey market involvement. The ITAT considered the nature of the assessee's business, documented purchases, lack of supplier confirmations, and unsatisfactory responses to notices in affirming the 12.5% restriction on additions for both assessment years. Case-Laws Income Tax Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407895