https://www.taxtmi.com/caselaws?id=466371 Estimation of income by addition for alleged bogus purchases was contested after assessing officer made an 18.5% addition and CIT(A) reduced it to 12.5% because the assessee failed to produce counterparties for examination. Tribunal found no illegality or perversity in CIT(A)'s holistic approach and rejected the assessee's request to further reduce the addition to 5%. Consequently the appellate reduction to 12.5% stands and both assessee's and revenue's appeals were dismissed. en-us Mon, 28 Jul 2025 00:00:00 +0530 Tue, 03 Feb 2026 22:11:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466371 Estimation of income by addition for alleged bogus purchases was contested after assessing officer made an 18.5% addition and CIT(A) reduced it to 12.5% because the assessee failed to produce counterparties for examination. Tribunal found no illegality or perversity in CIT(A)'s holistic approach and rejected the assessee's request to further reduce the addition to 5%. Consequently the appellate reduction to 12.5% stands and both assessee's and revenue's appeals were dismissed. Case-Laws Income Tax Mon, 28 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466371