https://www.taxtmi.com/caselaws?id=442085 The Tribunal partially allowed the appeal challenging the addition of Rs. 96,79,247 on account of alleged bogus purchases under Section 69C of the Income Tax Act, 1961. The Tribunal directed the Assessing Officer to limit the addition to 2.5% of the disputed amount, considering that the corresponding sales by the assessee were not in question. The decision was based on similar cases and the lack of evidence regarding the genuineness of the purchases, ultimately leading to the partial success of the appeal. en-us Thu, 27 Jul 2023 00:00:00 +0530 Wed, 23 Aug 2023 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442085 The Tribunal partially allowed the appeal challenging the addition of Rs. 96,79,247 on account of alleged bogus purchases under Section 69C of the Income Tax Act, 1961. The Tribunal directed the Assessing Officer to limit the addition to 2.5% of the disputed amount, considering that the corresponding sales by the assessee were not in question. The decision was based on similar cases and the lack of evidence regarding the genuineness of the purchases, ultimately leading to the partial success of the appeal. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442085