https://www.taxtmi.com/caselaws?id=773267 The AT set aside additions of Rs. 52,57,515 as unexplained purchases and Rs. 92,006 as gross profit, remanding the matter to AO for fresh consideration. The assessee had claimed the purchase difference with M/s Essar Oil Limited arose from VAT accounting treatment but failed to provide documentary evidence before AO. The AT allowed fresh evidence submission including VAT returns and directed AO to give fair opportunity to reconcile purchase differences. The Revenue did not oppose remand. Assessment order validity and interest levy under Sections 234B and 234C were implicitly deferred for reassessment after proper inquiry with adequate opportunity for assessee explanation. en-us Thu, 15 May 2025 00:00:00 +0530 Fri, 20 Jun 2025 08:34:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773267 The AT set aside additions of Rs. 52,57,515 as unexplained purchases and Rs. 92,006 as gross profit, remanding the matter to AO for fresh consideration. The assessee had claimed the purchase difference with M/s Essar Oil Limited arose from VAT accounting treatment but failed to provide documentary evidence before AO. The AT allowed fresh evidence submission including VAT returns and directed AO to give fair opportunity to reconcile purchase differences. The Revenue did not oppose remand. Assessment order validity and interest levy under Sections 234B and 234C were implicitly deferred for reassessment after proper inquiry with adequate opportunity for assessee explanation. Case-Laws Income Tax Thu, 15 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773267