https://www.taxtmi.com/caselaws?id=416763 The Tribunal allowed the cross objections of the assessee and dismissed the appeals of the Revenue. It upheld the decisions of the CIT(A) on various issues, directing the AO to delete additions made without incriminating material in an unabated assessment year. The Tribunal also supported the deletion of additions on account of bogus purchases, disallowance under section 14A, commission paid to M/s Alpine Enterprises LLC, service charges paid to Man Overseas DMCC, and depreciation claimed on premium. The AO was instructed to apply a profit rate of 12.50% on on-money receipts. en-us Thu, 25 Nov 2021 00:00:00 +0530 Thu, 06 Jan 2022 23:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416763 The Tribunal allowed the cross objections of the assessee and dismissed the appeals of the Revenue. It upheld the decisions of the CIT(A) on various issues, directing the AO to delete additions made without incriminating material in an unabated assessment year. The Tribunal also supported the deletion of additions on account of bogus purchases, disallowance under section 14A, commission paid to M/s Alpine Enterprises LLC, service charges paid to Man Overseas DMCC, and depreciation claimed on premium. The AO was instructed to apply a profit rate of 12.50% on on-money receipts. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416763