https://www.taxtmi.com/caselaws?id=302745 The ITAT partly allowed the appeal, emphasizing that a hundred percent disallowance for bogus purchases is not justified when sales are not doubted. The ITAT directed the assessing officer to restrict the addition on bogus purchases by aligning the gross profit rate with genuine purchases, following High Court precedents. The assessee was granted an opportunity to present their case adequately in line with the principles laid down by the High Court. en-us Tue, 03 Sep 2019 00:00:00 +0530 Wed, 15 Jun 2022 20:58:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302745 The ITAT partly allowed the appeal, emphasizing that a hundred percent disallowance for bogus purchases is not justified when sales are not doubted. The ITAT directed the assessing officer to restrict the addition on bogus purchases by aligning the gross profit rate with genuine purchases, following High Court precedents. The assessee was granted an opportunity to present their case adequately in line with the principles laid down by the High Court. Case-Laws Income Tax Tue, 03 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302745