https://www.taxtmi.com/caselaws?id=463457 ITAT, DELHI (AT) upheld the CIT(A) and dismissed revenue appeals. Where AO treated purchases as bogus, the Tribunal held additions must be limited to the net profit embedded in those transactions (using the assessee's genuine profit rate from recent years) rather than disallowing entire purchase amounts; two suppliers were identified for computation. Alleged demonetization deposits were interbank transfers and not added. Cash found on search was later reconciled with the cash book so no addition arose. Uncorroborated mobile images and loose slips linking transactions to the assessee were rejected and related additions deleted. en-us Thu, 30 May 2024 00:00:00 +0530 Tue, 02 Sep 2025 19:03:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463457 ITAT, DELHI (AT) upheld the CIT(A) and dismissed revenue appeals. Where AO treated purchases as bogus, the Tribunal held additions must be limited to the net profit embedded in those transactions (using the assessee's genuine profit rate from recent years) rather than disallowing entire purchase amounts; two suppliers were identified for computation. Alleged demonetization deposits were interbank transfers and not added. Cash found on search was later reconciled with the cash book so no addition arose. Uncorroborated mobile images and loose slips linking transactions to the assessee were rejected and related additions deleted. Case-Laws Income Tax Thu, 30 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463457