https://www.taxtmi.com/caselaws?id=762728 The Tribunal dismissed all eight appeals filed by the revenue, affirming the CIT(A)'s decision to restrict the additions to the extent of the gross profit margin on genuine purchases and to delete the addition made on account of unproved purchases. The Tribunal upheld the CIT(A)'s approach, which aligned with legal precedents and principles of natural justice, emphasizing that the assessing officer's reliance on external information without independent verification was inadequate to justify the additions. en-us Wed, 06 Nov 2024 00:00:00 +0530 Thu, 05 Dec 2024 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762728 The Tribunal dismissed all eight appeals filed by the revenue, affirming the CIT(A)'s decision to restrict the additions to the extent of the gross profit margin on genuine purchases and to delete the addition made on account of unproved purchases. The Tribunal upheld the CIT(A)'s approach, which aligned with legal precedents and principles of natural justice, emphasizing that the assessing officer's reliance on external information without independent verification was inadequate to justify the additions. Case-Laws Income Tax Wed, 06 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762728