https://www.taxtmi.com/caselaws?id=430056 HC upheld CIT(A)'s and Tribunal's finding that alleged bogus purchases could not be disallowed in isolation when corresponding sales were accepted as genuine, treating the case as one of purchases from bogus parties rather than non-existent transactions. Consequently, proposed questions of law on the bogus purchases were held not to be substantial, and Revenue's challenge on that aspect failed. However, HC found that the Tribunal had not adjudicated the specific issue of adoption of a 5% gross profit rate on alleged hawala purchases, as directed by CIT(A), and therefore remitted that limited issue to the Tribunal for proper consideration. en-us Fri, 21 Oct 2022 00:00:00 +0530 Thu, 11 Dec 2025 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430056 HC upheld CIT(A)'s and Tribunal's finding that alleged bogus purchases could not be disallowed in isolation when corresponding sales were accepted as genuine, treating the case as one of purchases from bogus parties rather than non-existent transactions. Consequently, proposed questions of law on the bogus purchases were held not to be substantial, and Revenue's challenge on that aspect failed. However, HC found that the Tribunal had not adjudicated the specific issue of adoption of a 5% gross profit rate on alleged hawala purchases, as directed by CIT(A), and therefore remitted that limited issue to the Tribunal for proper consideration. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430056