https://www.taxtmi.com/caselaws?id=312854 The ITAT dismissed both the departmental appeal and the assessee's cross-objection concerning the CIT(A)'s decision to restrict the addition on alleged bogus purchases to 12.5%. The ITAT upheld the CIT(A)'s determination that only the profit element in the purchases should be treated as income, not the entire amount. en-us Wed, 03 May 2017 00:00:00 +0530 Tue, 12 Mar 2024 14:13:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312854 The ITAT dismissed both the departmental appeal and the assessee's cross-objection concerning the CIT(A)'s decision to restrict the addition on alleged bogus purchases to 12.5%. The ITAT upheld the CIT(A)'s determination that only the profit element in the purchases should be treated as income, not the entire amount. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312854