https://www.taxtmi.com/caselaws?id=460229 ITAT Surat upheld CIT(A)'s decision restricting disallowance to 5% of non-genuine purchases for AY 2013-14. The tribunal found that while assessee made actual purchases, invoices were obtained from bogus suppliers who may have inflated purchase amounts. Since corresponding sales genuineness was not disputed by AO and entire purchases could not be treated as bogus, the 5% disallowance was deemed reasonable. Revenue's appeal was dismissed. en-us Thu, 15 Nov 2018 00:00:00 +0530 Wed, 15 Jan 2025 20:53:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460229 ITAT Surat upheld CIT(A)'s decision restricting disallowance to 5% of non-genuine purchases for AY 2013-14. The tribunal found that while assessee made actual purchases, invoices were obtained from bogus suppliers who may have inflated purchase amounts. Since corresponding sales genuineness was not disputed by AO and entire purchases could not be treated as bogus, the 5% disallowance was deemed reasonable. Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 15 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460229