https://www.taxtmi.com/caselaws?id=314474 The ITAT modified the CIT(A)'s decision, reducing the GP rate on bogus purchases from 12.5% to 4%, considering it more appropriate for a dealer in ferrous and non-ferrous metals. Consequently, the assessee's appeal was partly allowed, and the Revenue's cross-appeal was dismissed as infructuous. en-us Tue, 15 Dec 2020 00:00:00 +0530 Thu, 13 Jun 2024 13:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314474 The ITAT modified the CIT(A)'s decision, reducing the GP rate on bogus purchases from 12.5% to 4%, considering it more appropriate for a dealer in ferrous and non-ferrous metals. Consequently, the assessee's appeal was partly allowed, and the Revenue's cross-appeal was dismissed as infructuous. Case-Laws Income Tax Tue, 15 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314474