https://www.taxtmi.com/caselaws?id=423668 The Tribunal partially allowed the appeals for multiple assessment years, directing the Assessing Officer to limit the addition on account of profit from alleged bogus purchases to the gross profit rate differential between genuine and alleged bogus purchases, in accordance with the Bombay High Court's precedent. The Tribunal emphasized restricting additions to reflect the GP rate disparity and not the entire purchase amount as income, aligning with the decision for the assessment year 2009-10. en-us Mon, 23 May 2022 00:00:00 +0530 Sat, 11 Jun 2022 09:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423668 The Tribunal partially allowed the appeals for multiple assessment years, directing the Assessing Officer to limit the addition on account of profit from alleged bogus purchases to the gross profit rate differential between genuine and alleged bogus purchases, in accordance with the Bombay High Court's precedent. The Tribunal emphasized restricting additions to reflect the GP rate disparity and not the entire purchase amount as income, aligning with the decision for the assessment year 2009-10. Case-Laws Income Tax Mon, 23 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423668