https://www.taxtmi.com/caselaws?id=427882 The Tribunal upheld the CIT(A)'s decision to apply a GP rate of 6% on total turnover and to charge commission on the restricted addition. The Revenue's appeal to disallow 25% of bogus purchases and charge commission on total bogus purchases was dismissed. The assessee's appeal against the sustained addition and commission was also dismissed as the purchases were not proven genuine. The Tribunal found the reopening of the assessment to be valid. Both appeals were partly allowed. en-us Thu, 15 Sep 2022 00:00:00 +0530 Mon, 19 Sep 2022 09:35:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427882 The Tribunal upheld the CIT(A)'s decision to apply a GP rate of 6% on total turnover and to charge commission on the restricted addition. The Revenue's appeal to disallow 25% of bogus purchases and charge commission on total bogus purchases was dismissed. The assessee's appeal against the sustained addition and commission was also dismissed as the purchases were not proven genuine. The Tribunal found the reopening of the assessment to be valid. Both appeals were partly allowed. Case-Laws Income Tax Thu, 15 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427882