https://www.taxtmi.com/caselaws?id=441467 The Tribunal upheld that purchases were not genuine but disagreed with the method of quantifying additions. It directed limiting the addition to align the GP rate of bogus purchases with genuine ones. The Tribunal set aside the rejection of books and referred expense disallowance back to AO for fair review, ensuring the assessee's right to be heard. The appeal was partially allowed, with instructions for the AO to reexamine specific matters. en-us Fri, 04 Aug 2023 00:00:00 +0530 Wed, 09 Aug 2023 07:35:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441467 The Tribunal upheld that purchases were not genuine but disagreed with the method of quantifying additions. It directed limiting the addition to align the GP rate of bogus purchases with genuine ones. The Tribunal set aside the rejection of books and referred expense disallowance back to AO for fair review, ensuring the assessee's right to be heard. The appeal was partially allowed, with instructions for the AO to reexamine specific matters. Case-Laws Income Tax Fri, 04 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441467