https://www.taxtmi.com/caselaws?id=755745 The Tribunal directed the AO to restrict the addition under section 69C of the Income-tax Act to 12.5% of the disputed purchases, amounting to Rs. 277,574, instead of the original Rs. 22,20,594. The Tribunal upheld the AO's action regarding the disallowance of alleged bogus purchases due to insufficient third-party evidence. The decision was based on legal precedents and submissions, ensuring a fair outcome in line with ITAT and high court rulings. en-us Tue, 16 Jul 2024 00:00:00 +0530 Thu, 18 Jul 2024 06:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755745 The Tribunal directed the AO to restrict the addition under section 69C of the Income-tax Act to 12.5% of the disputed purchases, amounting to Rs. 277,574, instead of the original Rs. 22,20,594. The Tribunal upheld the AO's action regarding the disallowance of alleged bogus purchases due to insufficient third-party evidence. The decision was based on legal precedents and submissions, ensuring a fair outcome in line with ITAT and high court rulings. Case-Laws Income Tax Tue, 16 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755745