https://www.taxtmi.com/caselaws?id=412284 The Tribunal partially allowed the appeal, estimating the disallowance for bogus purchases at 12% of the total amount. The Tribunal considered that the assessee's income from contract work was not in dispute, indicating materials were sourced elsewhere. Relying on precedent, only the profit element within the bogus purchases was deemed taxable, differing from the CIT(A)'s decision. en-us Mon, 11 Jan 2021 00:00:00 +0530 Wed, 15 Sep 2021 09:00:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412284 The Tribunal partially allowed the appeal, estimating the disallowance for bogus purchases at 12% of the total amount. The Tribunal considered that the assessee's income from contract work was not in dispute, indicating materials were sourced elsewhere. Relying on precedent, only the profit element within the bogus purchases was deemed taxable, differing from the CIT(A)'s decision. Case-Laws Income Tax Mon, 11 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412284