https://www.taxtmi.com/caselaws?id=408453 The appeal was recalled and reheard due to a low-tax effect case being covered by an exception in a CBDT Circular. The revenue challenged relief granted to the assessee for alleged bogus purchases, leading to disallowance of the amount due to lack of documentary evidence. The CIT(A) estimated the profit element at 12.68% based on accommodation bills, which was upheld by the tribunal to prevent revenue leakage. The appeal was dismissed on June 2nd, 2021, aligning with the CIT(A)'s decision. en-us Wed, 02 Jun 2021 00:00:00 +0530 Fri, 11 Jun 2021 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408453 The appeal was recalled and reheard due to a low-tax effect case being covered by an exception in a CBDT Circular. The revenue challenged relief granted to the assessee for alleged bogus purchases, leading to disallowance of the amount due to lack of documentary evidence. The CIT(A) estimated the profit element at 12.68% based on accommodation bills, which was upheld by the tribunal to prevent revenue leakage. The appeal was dismissed on June 2nd, 2021, aligning with the CIT(A)'s decision. Case-Laws Income Tax Wed, 02 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408453