https://www.taxtmi.com/caselaws?id=443695 The Tribunal upheld the CIT(A)'s decisions on all issues, dismissing both the revenue's and the assessee's appeals. The disallowance of commission expenses was overturned due to lack of verification by the AO, with the Tribunal emphasizing the need for justification and proper documentation for business expenditures. The restriction of addition for alleged bogus purchases to 15% was deemed appropriate based on judicial precedents. Similarly, the deletion of addition of sundry creditors was upheld, with the Tribunal finding the CIT(A)'s consistent application of the profit element approach justified. en-us Wed, 27 Sep 2023 00:00:00 +0530 Fri, 29 Sep 2023 07:42:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443695 The Tribunal upheld the CIT(A)'s decisions on all issues, dismissing both the revenue's and the assessee's appeals. The disallowance of commission expenses was overturned due to lack of verification by the AO, with the Tribunal emphasizing the need for justification and proper documentation for business expenditures. The restriction of addition for alleged bogus purchases to 15% was deemed appropriate based on judicial precedents. Similarly, the deletion of addition of sundry creditors was upheld, with the Tribunal finding the CIT(A)'s consistent application of the profit element approach justified. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443695