Where Assessing Officer, on noting that assessee was engaged in bogus purchases, disallowed entire purchases, considering it unexplained expenditure under section 69C, however, Commissioner (Appeals) on finding genuineness in payments, restricted disallowance to 8% of total purchases, order of Commissioner (Appeals) needed no interference – Principal Commissioner of Income-tax-32 v. Hitesh Mody (HUF) – [2024] 160 taxmann.com 110 (Bombay)
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