https://www.taxtmi.com/caselaws?id=437298 The case involved challenges to search assessments under Section 153A of the Income Tax Act, addition of bogus purchases, and unexplained cash credits under Section 68. The tribunal partly allowed the assessee's appeal for the assessment year 2013-14, restricting gross profit addition on bogus purchases. The Revenue's appeals for the same year and the following year were dismissed. The tribunal concluded that the addition on account of unexplained cash credits was unwarranted as the transactions were found to be genuine, and the funds were traced back to the original source. en-us Tue, 24 Jan 2023 00:00:00 +0530 Wed, 10 May 2023 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437298 The case involved challenges to search assessments under Section 153A of the Income Tax Act, addition of bogus purchases, and unexplained cash credits under Section 68. The tribunal partly allowed the assessee's appeal for the assessment year 2013-14, restricting gross profit addition on bogus purchases. The Revenue's appeals for the same year and the following year were dismissed. The tribunal concluded that the addition on account of unexplained cash credits was unwarranted as the transactions were found to be genuine, and the funds were traced back to the original source. Case-Laws Income Tax Tue, 24 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437298