https://www.taxtmi.com/caselaws?id=430233 The Tribunal partially allowed the appellant's appeal by restricting the addition on account of bogus purchases of diamonds to 25% of the disputed amount of Rs. 6,80,400. The Tribunal found that the appellant provided sufficient evidence to prove the purchases and considered the possibility that the purchases might have been made from a different party. Relying on legal precedents and the CIT(A)'s decision in a similar case, the Tribunal concluded that only 25% of the disputed amount should be added to the appellant's income. en-us Tue, 13 Sep 2022 00:00:00 +0530 Tue, 15 Nov 2022 09:16:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430233 The Tribunal partially allowed the appellant's appeal by restricting the addition on account of bogus purchases of diamonds to 25% of the disputed amount of Rs. 6,80,400. The Tribunal found that the appellant provided sufficient evidence to prove the purchases and considered the possibility that the purchases might have been made from a different party. Relying on legal precedents and the CIT(A)'s decision in a similar case, the Tribunal concluded that only 25% of the disputed amount should be added to the appellant's income. Case-Laws Income Tax Tue, 13 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430233