TaxTMI 
TaxTMI 
2013 (6) TMI 257
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....tion has been raised for our consideration: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in restricting the disallowance to the extent of 12.5 per cent. of the addition on account of bogus purchase, without appreciating the factual aspect and by ignoring the manifest evidence relied upon by the Assessing Officer and overlooking the ratio laid down b....
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....ommissioner of Income-tax (Appeals) partly allowed the appeal. It was found that though the purchases were not made from the parties from whom the assessee claimed, there was complete quantitative tally of material purchased and sold. In that view of the matter, the Commissioner of Income-tax (Appeals) was of the view that such materials were purchased from the open market incurring cash payment....
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....eved by the Tribunal's verdict of not only rejecting its appeal but of allowing the assessee. However, when we are not inclined to interfere with the Tribunal's order on the merits, we do not insist on the Revenue's filing a separate appeal. From the record, we noticed that the Commissioner (Appeals) as well as the Tribunal found that the purchase of raw material, in which the assessee was tradin....