https://www.taxtmi.com/caselaws?id=298324 The Tribunal partly allowed the assessee's appeal by restricting the addition on account of alleged bogus purchases to 5% of the total amount and upholding the levy of interest under sections 234B and 234C. The Tribunal emphasized the lack of evidence showing funds returning to the assessee and the absence of doubts regarding corresponding sales. The decision aligned with industry standards and judicial precedents, providing consequential relief to the assessee based on the revised addition. en-us Wed, 11 Apr 2018 00:00:00 +0530 Wed, 27 Oct 2021 09:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298324 The Tribunal partly allowed the assessee's appeal by restricting the addition on account of alleged bogus purchases to 5% of the total amount and upholding the levy of interest under sections 234B and 234C. The Tribunal emphasized the lack of evidence showing funds returning to the assessee and the absence of doubts regarding corresponding sales. The decision aligned with industry standards and judicial precedents, providing consequential relief to the assessee based on the revised addition. Case-Laws Income Tax Wed, 11 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298324