https://www.taxtmi.com/caselaws?id=446540 Gujarat HC upheld ITAT's decision restricting disallowance of unexplained purchases to 6% instead of 12.5%. The court relied on precedent from Pankaj K. Choudhary case, finding that ITAT had properly analyzed the facts before reducing the disallowance rate. HC concluded no substantial questions of law arose and declined to interfere with the tribunal's findings, affirming the reduced disallowance percentage. en-us Tue, 28 Nov 2023 00:00:00 +0530 Wed, 06 Dec 2023 08:58:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446540 Gujarat HC upheld ITAT's decision restricting disallowance of unexplained purchases to 6% instead of 12.5%. The court relied on precedent from Pankaj K. Choudhary case, finding that ITAT had properly analyzed the facts before reducing the disallowance rate. HC concluded no substantial questions of law arose and declined to interfere with the tribunal's findings, affirming the reduced disallowance percentage. Case-Laws Income Tax Tue, 28 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446540