https://www.taxtmi.com/caselaws?id=432908 The Tribunal allowed all appeals for statistical purposes, directing the Assessing Officers to recompute additions based on a precedent set by the Hon'ble Bombay High Court. The Court held that additions should be calculated by considering the difference between gross profit rates on genuine purchases and those on hawala transactions, overturning the previous decisions made by the lower authorities. The matter was remitted back to the respective Assessing Officers for re-computation in accordance with the High Court's ruling. en-us Wed, 04 Jan 2023 00:00:00 +0530 Mon, 16 Jan 2023 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432908 The Tribunal allowed all appeals for statistical purposes, directing the Assessing Officers to recompute additions based on a precedent set by the Hon'ble Bombay High Court. The Court held that additions should be calculated by considering the difference between gross profit rates on genuine purchases and those on hawala transactions, overturning the previous decisions made by the lower authorities. The matter was remitted back to the respective Assessing Officers for re-computation in accordance with the High Court's ruling. Case-Laws Income Tax Wed, 04 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432908