https://www.taxtmi.com/caselaws?id=401149 Disputed purchases were treated as bogus on the basis of accommodation-entry information, non-service of notices, and non-production of the supplier, but the matter was assessed as estimation of the profit element embedded in such purchases. Following the assessee's own earlier and later year decisions on the same issue, the appellate authority restricted the addition to 5% of the purchase value. The Tribunal found no infirmity in that approach and upheld the 5% estimate, rejecting the Revenue's attempt to apply a 12.5% disallowance. en-us Wed, 25 Nov 2020 00:00:00 +0530 Sat, 28 Nov 2020 09:58:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401149 Disputed purchases were treated as bogus on the basis of accommodation-entry information, non-service of notices, and non-production of the supplier, but the matter was assessed as estimation of the profit element embedded in such purchases. Following the assessee's own earlier and later year decisions on the same issue, the appellate authority restricted the addition to 5% of the purchase value. The Tribunal found no infirmity in that approach and upheld the 5% estimate, rejecting the Revenue's attempt to apply a 12.5% disallowance. Case-Laws Income Tax Wed, 25 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401149