Tax Decision Overturned: Genuine Purchases Verified, Unjust Gross Profit Addition Deleted, Assessee Wins Valuation Dispute.

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....CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation, expenses accounted for. No evidence of routing back payments. CIT(A) endorsed assessee's contentions but erred in directing gross profit rate application, defying logic. Assessee discharged onus, furnished abundant evidence substantiating purchases' genuineness. CIT(A) erred in sustaining gross profit addition on alleged purchases over declared profit. Gross profit determined by CIT(A) directed to be deleted. Addition u/s 56(2)(x) for difference between purchase price and stamp duty value of property purchased, without referring valuation to DVO, is unsustainable and liable to be .........