https://www.taxtmi.com/caselaws?id=459618 The ITAT remanded the case to the AO for reevaluation, finding the 8% GP rate on alleged bogus purchases excessive. The CIT(A)'s decision to uphold the addition was partially overturned. The assessee's appeal was partly allowed for statistical purposes, necessitating fresh consideration of the profit margin estimate by the AO. en-us Fri, 02 Jul 2021 00:00:00 +0530 Thu, 19 Dec 2024 19:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459618 The ITAT remanded the case to the AO for reevaluation, finding the 8% GP rate on alleged bogus purchases excessive. The CIT(A)'s decision to uphold the addition was partially overturned. The assessee's appeal was partly allowed for statistical purposes, necessitating fresh consideration of the profit margin estimate by the AO. Case-Laws Income Tax Fri, 02 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459618