https://www.taxtmi.com/caselaws?id=432616 The Tribunal allowed both the assessee's and the revenue's appeals for statistical purposes. The matter was restored to the AO to restrict the addition to the profit margin by bringing the GP rate of the bogus purchases to the same rate as that of genuine purchases. The Tribunal's decision emphasized the need for substantiating purchase transactions with supporting documentary evidence and the appropriate quantification of additions based on profit margins rather than the entire amount of impugned purchases. en-us Thu, 22 Dec 2022 00:00:00 +0530 Mon, 09 Jan 2023 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432616 The Tribunal allowed both the assessee's and the revenue's appeals for statistical purposes. The matter was restored to the AO to restrict the addition to the profit margin by bringing the GP rate of the bogus purchases to the same rate as that of genuine purchases. The Tribunal's decision emphasized the need for substantiating purchase transactions with supporting documentary evidence and the appropriate quantification of additions based on profit margins rather than the entire amount of impugned purchases. Case-Laws Income Tax Thu, 22 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432616