https://www.taxtmi.com/caselaws?id=425536 The High Court upheld the Tribunal's decision in an Income Tax Appeal case, emphasizing the necessity of material purchases for completing assigned works. The appellant's challenge regarding non-genuine purchases totaling Rs.4,74,54,793/- resulted in the addition of Rs.59,31,849/- as estimated profit. The Court supported the Tribunal's decision, highlighting the importance of consumption reports and completion certificates in justifying the purchases. Ultimately, the Court found no legal grounds to interfere with the Tribunal's order, dismissing the appeal. en-us Mon, 18 Jul 2022 00:00:00 +0530 Mon, 26 Jun 2023 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425536 The High Court upheld the Tribunal's decision in an Income Tax Appeal case, emphasizing the necessity of material purchases for completing assigned works. The appellant's challenge regarding non-genuine purchases totaling Rs.4,74,54,793/- resulted in the addition of Rs.59,31,849/- as estimated profit. The Court supported the Tribunal's decision, highlighting the importance of consumption reports and completion certificates in justifying the purchases. Ultimately, the Court found no legal grounds to interfere with the Tribunal's order, dismissing the appeal. Case-Laws Income Tax Mon, 18 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425536