https://www.taxtmi.com/caselaws?id=429709 The Tribunal partly allowed the Revenue's appeal by increasing the disallowance percentage on disputed purchases from 5% to 6%, aiming to prevent revenue leakage. This decision was made considering the negligible net profit shown by the assessee despite substantial turnover and aligning with consistent approaches in similar cases. The Tribunal differentiated the facts of the case from precedent cited by the Revenue, emphasizing the importance of addressing questionable transactions to safeguard revenue. en-us Mon, 31 Oct 2022 00:00:00 +0530 Thu, 03 Nov 2022 09:06:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429709 The Tribunal partly allowed the Revenue's appeal by increasing the disallowance percentage on disputed purchases from 5% to 6%, aiming to prevent revenue leakage. This decision was made considering the negligible net profit shown by the assessee despite substantial turnover and aligning with consistent approaches in similar cases. The Tribunal differentiated the facts of the case from precedent cited by the Revenue, emphasizing the importance of addressing questionable transactions to safeguard revenue. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429709