https://www.taxtmi.com/caselaws?id=420564 The Tribunal upheld the CIT(A)'s decision to restrict the addition to 10% of the bogus purchases, emphasizing that only the profit element should be added to income. The Tribunal distinguished the present case from the Supreme Court's decision in N.K. Proteins and found that the CIT(A) had correctly considered the overall context, including the assessee's business operations and sales. The appeal filed by the Revenue was dismissed. en-us Wed, 30 Mar 2022 00:00:00 +0530 Tue, 05 Apr 2022 09:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420564 The Tribunal upheld the CIT(A)'s decision to restrict the addition to 10% of the bogus purchases, emphasizing that only the profit element should be added to income. The Tribunal distinguished the present case from the Supreme Court's decision in N.K. Proteins and found that the CIT(A) had correctly considered the overall context, including the assessee's business operations and sales. The appeal filed by the Revenue was dismissed. Case-Laws Income Tax Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420564