https://www.taxtmi.com/caselaws?id=415436 Where purchase bills are doubted as bogus but the sales are accepted, the addition should ordinarily be limited to the profit element embedded in the disputed purchases. Complete disallowance of the entire purchase value is not justified merely because the assessee fails to fully substantiate the source or produce suppliers, if the recorded sales remain undisturbed. Applying that settled approach, the tribunal restricted the addition to the estimate already made by the Assessing Officer instead of sustaining a 100 per cent disallowance. en-us Mon, 13 Sep 2021 00:00:00 +0530 Mon, 06 Dec 2021 09:36:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415436 Where purchase bills are doubted as bogus but the sales are accepted, the addition should ordinarily be limited to the profit element embedded in the disputed purchases. Complete disallowance of the entire purchase value is not justified merely because the assessee fails to fully substantiate the source or produce suppliers, if the recorded sales remain undisturbed. Applying that settled approach, the tribunal restricted the addition to the estimate already made by the Assessing Officer instead of sustaining a 100 per cent disallowance. Case-Laws Income Tax Mon, 13 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415436