Tribunal Rules Department Can't Reject Purchases as Bogus Without Evidence; Limits Additions to Gross Profit Rate.

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Full Text of the Document

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....Bogus purchases - department had neither disputed the assessee's sales nor shown any discrepancy between the purchases shown and the sales declared - the Tribunal was correct in coming to the conclusion that the purchases cannot be rejected without disturbing the sales in case of a trader - correctly restricted the additions @ of G.P. rate on purchases at the same rate of other genuine purchases....