https://www.taxtmi.com/caselaws?id=188069 HC held that the Tribunal correctly treated alleged purchases of Rs. 2,92,93,288 as wholly bogus and that limiting disallowance to 25% was impermissible; the full addition was warranted under ss.68/69C. Additions for purchases from two specified suppliers were upheld despite lack of seizure material. However, the HC reduced the gross profit addition on admitted recorded sales: adjusted gross profit fixed at 5.66%, resulting in an addition of Rs.20,98,621.88, with corresponding cost deductions to be given effect. en-us Mon, 20 Jun 2016 00:00:00 +0530 Tue, 04 Nov 2025 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188069 HC held that the Tribunal correctly treated alleged purchases of Rs. 2,92,93,288 as wholly bogus and that limiting disallowance to 25% was impermissible; the full addition was warranted under ss.68/69C. Additions for purchases from two specified suppliers were upheld despite lack of seizure material. However, the HC reduced the gross profit addition on admitted recorded sales: adjusted gross profit fixed at 5.66%, resulting in an addition of Rs.20,98,621.88, with corresponding cost deductions to be given effect. Case-Laws Income Tax Mon, 20 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188069