https://www.taxtmi.com/caselaws?id=438985 The Tribunal partially allowed the appeal, restricting the addition to the profit made from discounted purchases. It emphasized the need for accurate quantification by the A.O in line with the High Court's observations, rectifying the A.O's flawed reasoning in assessing alleged bogus purchases. The decision aimed to ensure a fair assessment and highlighted the importance of substantiating transactions with proper documentation to avoid unwarranted income additions. en-us Wed, 23 Nov 2022 00:00:00 +0530 Mon, 12 Jun 2023 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438985 The Tribunal partially allowed the appeal, restricting the addition to the profit made from discounted purchases. It emphasized the need for accurate quantification by the A.O in line with the High Court's observations, rectifying the A.O's flawed reasoning in assessing alleged bogus purchases. The decision aimed to ensure a fair assessment and highlighted the importance of substantiating transactions with proper documentation to avoid unwarranted income additions. Case-Laws Income Tax Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438985