https://www.taxtmi.com/caselaws?id=438369 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to restrict the addition on account of bogus purchases to 6% of the total. The Revenue's arguments-highlighting the failure to produce parties for verification and questioning the validity of banking channel payments-were not found persuasive. The Tribunal upheld the CIT(A)'s assessment, which considered legal precedents and procedural aspects, and concluded that the CIT(A) acted correctly in limiting the addition, thereby supporting the assessee's position. The decision was pronounced on 24.05.2023. en-us Wed, 24 May 2023 00:00:00 +0530 Sat, 02 Dec 2023 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438369 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to restrict the addition on account of bogus purchases to 6% of the total. The Revenue's arguments-highlighting the failure to produce parties for verification and questioning the validity of banking channel payments-were not found persuasive. The Tribunal upheld the CIT(A)'s assessment, which considered legal precedents and procedural aspects, and concluded that the CIT(A) acted correctly in limiting the addition, thereby supporting the assessee's position. The decision was pronounced on 24.05.2023. Case-Laws Income Tax Wed, 24 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438369