https://www.taxtmi.com/caselaws?id=173929 Where purchases are not fully genuine and surrounding circumstances indicate use of non-traceable or conduit suppliers, an estimated disallowance based on a reasonable percentage of the purchases can be sustained. The High Court upheld the Tribunal's 25% addition because the record supported actual procurement only to that extent and the apparent suppliers were not accepted as genuine. The separate section 40A(3) objection was not independently pursued and was treated as consequential to the factual findings, so no interference was warranted on that ground. en-us Tue, 16 Aug 2011 00:00:00 +0530 Thu, 21 Aug 2025 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173929 Where purchases are not fully genuine and surrounding circumstances indicate use of non-traceable or conduit suppliers, an estimated disallowance based on a reasonable percentage of the purchases can be sustained. The High Court upheld the Tribunal's 25% addition because the record supported actual procurement only to that extent and the apparent suppliers were not accepted as genuine. The separate section 40A(3) objection was not independently pursued and was treated as consequential to the factual findings, so no interference was warranted on that ground. Case-Laws Income Tax Tue, 16 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173929