https://www.taxtmi.com/caselaws?id=422034 The ITAT upheld the CIT(A)'s decision to restrict the addition to 5% of the bogus purchases, amounting to Rs.1,20,48,325, in a case involving purchases from non-existent vendors. The ITAT found no reason to deviate from the precedent set in a similar case involving the assessee's father. Consequently, all issues were decided in favor of the assessee, leading to the dismissal of the Revenue's appeal and partial allowance of the assessee's cross-objection. en-us Wed, 06 Apr 2022 00:00:00 +0530 Fri, 06 May 2022 23:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422034 The ITAT upheld the CIT(A)'s decision to restrict the addition to 5% of the bogus purchases, amounting to Rs.1,20,48,325, in a case involving purchases from non-existent vendors. The ITAT found no reason to deviate from the precedent set in a similar case involving the assessee's father. Consequently, all issues were decided in favor of the assessee, leading to the dismissal of the Revenue's appeal and partial allowance of the assessee's cross-objection. Case-Laws Income Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422034