https://www.taxtmi.com/caselaws?id=351255 The appeal of the assessee was partly allowed, with the disallowance restricted to 20% of the bogus purchases amounting to Rs. 3,55,00,233. The Tribunal emphasized the necessity of estimating the profit in such cases to safeguard the interest of Revenue. The decision was based on the acknowledgment of the bogus nature of purchases made from untraceable suppliers. The outcome aimed to cover the revenue leakage while providing a partial relief to the assessee. en-us Thu, 14 Sep 2017 00:00:00 +0530 Wed, 22 Nov 2017 08:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351255 The appeal of the assessee was partly allowed, with the disallowance restricted to 20% of the bogus purchases amounting to Rs. 3,55,00,233. The Tribunal emphasized the necessity of estimating the profit in such cases to safeguard the interest of Revenue. The decision was based on the acknowledgment of the bogus nature of purchases made from untraceable suppliers. The outcome aimed to cover the revenue leakage while providing a partial relief to the assessee. Case-Laws Income Tax Thu, 14 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351255