https://www.taxtmi.com/caselaws?id=392218 HC upheld the Tribunal's findings that purported purchases from non-existent suppliers were not wholly disallowable; only the embedded profit margin, not the entire purchase value, was taxable. The Tribunal, after confirming purchases corresponded to recorded sales and banked payments, sustained a 5% profit addition (2% by CIT(A) plus an extra 3% by the Tribunal). The HC found no error in this approach and held the matter raised no substantial question of law. en-us Mon, 10 Feb 2020 00:00:00 +0530 Tue, 18 Nov 2025 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392218 HC upheld the Tribunal's findings that purported purchases from non-existent suppliers were not wholly disallowable; only the embedded profit margin, not the entire purchase value, was taxable. The Tribunal, after confirming purchases corresponded to recorded sales and banked payments, sustained a 5% profit addition (2% by CIT(A) plus an extra 3% by the Tribunal). The HC found no error in this approach and held the matter raised no substantial question of law. Case-Laws Income Tax Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392218