https://www.taxtmi.com/caselaws?id=755944 The Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to apply a 4% profit rate on the alleged bogus purchases, reducing the disputed addition. This decision aligns with precedents from the ITAT Mumbai and the Jurisdictional High Court, ensuring the profit rate on alleged bogus purchases matches that of genuine transactions. en-us Thu, 18 Jul 2024 00:00:00 +0530 Tue, 23 Jul 2024 20:12:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755944 The Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to apply a 4% profit rate on the alleged bogus purchases, reducing the disputed addition. This decision aligns with precedents from the ITAT Mumbai and the Jurisdictional High Court, ensuring the profit rate on alleged bogus purchases matches that of genuine transactions. Case-Laws Income Tax Thu, 18 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755944