https://www.taxtmi.com/caselaws?id=353977 Purchases claimed from accommodation-entry suppliers were found unverifiable because notices under section 133(6) were returned unserved and the assessee did not produce the parties or evidence of actual delivery. However, the sales were accepted and the trading results were consistent with the preceding year, indicating that goods were used in the business and corresponding turnover was recorded. In these circumstances, the document states that the entire purchase addition was unsustainable and only the profit element embedded in the unverifiable purchases could be taxed, with disallowance restricted to 6% of the impugned purchases and the balance deleted. en-us Wed, 27 Dec 2017 00:00:00 +0530 Mon, 15 Jan 2018 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353977 Purchases claimed from accommodation-entry suppliers were found unverifiable because notices under section 133(6) were returned unserved and the assessee did not produce the parties or evidence of actual delivery. However, the sales were accepted and the trading results were consistent with the preceding year, indicating that goods were used in the business and corresponding turnover was recorded. In these circumstances, the document states that the entire purchase addition was unsustainable and only the profit element embedded in the unverifiable purchases could be taxed, with disallowance restricted to 6% of the impugned purchases and the balance deleted. Case-Laws Income Tax Wed, 27 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353977