https://www.taxtmi.com/caselaws?id=416158 The Tribunal partly allowed both appeals, directing the Assessing Officer to estimate the profit element from non-genuine purchases at 4% for the A.Y. 2009-10. It emphasized the need for reasonable estimation in the absence of conclusive proof regarding purchases. The Tribunal also addressed the procedural aspect of filing the appeal in compliance with Rule 45 of I.T. Rules, restoring the appeal for disposal on merits after the assessee e-filed it within a specified period. This case clarified the assessment procedures and highlighted the importance of adherence to legal requirements. en-us Thu, 25 Nov 2021 00:00:00 +0530 Wed, 22 Dec 2021 07:50:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416158 The Tribunal partly allowed both appeals, directing the Assessing Officer to estimate the profit element from non-genuine purchases at 4% for the A.Y. 2009-10. It emphasized the need for reasonable estimation in the absence of conclusive proof regarding purchases. The Tribunal also addressed the procedural aspect of filing the appeal in compliance with Rule 45 of I.T. Rules, restoring the appeal for disposal on merits after the assessee e-filed it within a specified period. This case clarified the assessment procedures and highlighted the importance of adherence to legal requirements. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416158