https://www.taxtmi.com/caselaws?id=447196 ITAT Delhi ruled in favor of the assessee regarding bogus purchases allegations. The tribunal found that a protective addition of 5% and alleged commission/brokerage as business income were not sustainable. The decision was based on a previous ITAT Delhi ruling in Orient Craft Ltd. case, which established that purchases from the assessee were genuine. Consequently, both the protective addition and the CIT(A)'s order adding alleged commission/brokerage as business income were set aside for all assessment years under consideration. en-us Mon, 18 Dec 2023 00:00:00 +0530 Tue, 19 Dec 2023 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447196 ITAT Delhi ruled in favor of the assessee regarding bogus purchases allegations. The tribunal found that a protective addition of 5% and alleged commission/brokerage as business income were not sustainable. The decision was based on a previous ITAT Delhi ruling in Orient Craft Ltd. case, which established that purchases from the assessee were genuine. Consequently, both the protective addition and the CIT(A)'s order adding alleged commission/brokerage as business income were set aside for all assessment years under consideration. Case-Laws Income Tax Mon, 18 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447196