https://www.taxtmi.com/caselaws?id=314373 The ITAT Mumbai adjudicated cross-appeals for AY 2010-11 concerning alleged bogus purchases. The assessee's income was initially increased by 12.5% due to non-genuine purchases. However, the first appellate authority reduced the addition to 6%, aligning with a prior decision for a related entity for AY 2011-12. The Tribunal upheld this 6% addition, finding consistency with the sister concern's case, and dismissed both appeals, finalizing the decision on 11th September 2019. en-us Wed, 11 Sep 2019 00:00:00 +0530 Tue, 04 Jun 2024 19:47:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314373 The ITAT Mumbai adjudicated cross-appeals for AY 2010-11 concerning alleged bogus purchases. The assessee's income was initially increased by 12.5% due to non-genuine purchases. However, the first appellate authority reduced the addition to 6%, aligning with a prior decision for a related entity for AY 2011-12. The Tribunal upheld this 6% addition, finding consistency with the sister concern's case, and dismissed both appeals, finalizing the decision on 11th September 2019. Case-Laws Income Tax Wed, 11 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314373