https://www.taxtmi.com/caselaws?id=449593 The Tribunal held that the profit on the disputed purchases should be determined at 12.5%, reducing the addition from the 25% determined by the CIT(A). The appeals of the Revenue were dismissed, while the appeals of the assessee were partly allowed, adjusting the addition on account of bogus purchases accordingly. The Tribunal's decision reflects a partial acceptance of the assessee's arguments regarding the assessment's legality and the extent of the additions made. en-us Fri, 20 Oct 2023 00:00:00 +0530 Thu, 15 Feb 2024 06:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449593 The Tribunal held that the profit on the disputed purchases should be determined at 12.5%, reducing the addition from the 25% determined by the CIT(A). The appeals of the Revenue were dismissed, while the appeals of the assessee were partly allowed, adjusting the addition on account of bogus purchases accordingly. The Tribunal's decision reflects a partial acceptance of the assessee's arguments regarding the assessment's legality and the extent of the additions made. Case-Laws Income Tax Fri, 20 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449593