https://www.taxtmi.com/caselaws?id=436779 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to quantify the profit element by aligning the Gross Profit rate of bogus purchases with genuine purchases, following a Bombay High Court precedent. The matter was remanded to the AO for further proceedings with the instruction to provide a fair opportunity for the assessee to present their case. en-us Mon, 17 Apr 2023 00:00:00 +0530 Thu, 20 Apr 2023 10:02:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436779 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to quantify the profit element by aligning the Gross Profit rate of bogus purchases with genuine purchases, following a Bombay High Court precedent. The matter was remanded to the AO for further proceedings with the instruction to provide a fair opportunity for the assessee to present their case. Case-Laws Income Tax Mon, 17 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436779