https://www.taxtmi.com/caselaws?id=413600 The Tribunal upheld the CIT(A)'s decision to restrict the disallowance to 15% of the total bogus purchase transactions, considering the overall business context and evidence of goods consumption. The appeals filed by the revenue were dismissed, affirming that the disallowance should be limited to the profit margin embedded in the purchases from the open/grey market. en-us Tue, 21 Sep 2021 00:00:00 +0530 Sat, 16 Oct 2021 09:05:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413600 The Tribunal upheld the CIT(A)'s decision to restrict the disallowance to 15% of the total bogus purchase transactions, considering the overall business context and evidence of goods consumption. The appeals filed by the revenue were dismissed, affirming that the disallowance should be limited to the profit margin embedded in the purchases from the open/grey market. Case-Laws Income Tax Tue, 21 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413600