https://www.taxtmi.com/caselaws?id=256206 The dominant issue was whether the Tribunal could replace specific additions for alleged bogus purchases and related expenditure with an estimated net profit rate of 6% while deleting all additions. The HC held that the Tribunal committed a jurisdictional error by ignoring material relied on by the AO, including discrepancies between vouchers and corresponding bills (party names, descriptions, rates) and the assessee's failure to establish the existence of the purported suppliers, corroborated by an Inspector's report that the parties were not traceable at the stated addresses. As the estimation was applied without addressing this evidence, it resulted in miscarriage of justice; the Tribunal's approach was held unsustainable and the matter was decided in favour of the revenue. en-us Thu, 08 Jan 2015 00:00:00 +0530 Mon, 05 Jan 2026 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256206 The dominant issue was whether the Tribunal could replace specific additions for alleged bogus purchases and related expenditure with an estimated net profit rate of 6% while deleting all additions. The HC held that the Tribunal committed a jurisdictional error by ignoring material relied on by the AO, including discrepancies between vouchers and corresponding bills (party names, descriptions, rates) and the assessee's failure to establish the existence of the purported suppliers, corroborated by an Inspector's report that the parties were not traceable at the stated addresses. As the estimation was applied without addressing this evidence, it resulted in miscarriage of justice; the Tribunal's approach was held unsustainable and the matter was decided in favour of the revenue. Case-Laws Income Tax Thu, 08 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256206