https://www.taxtmi.com/caselaws?id=443001 Assessment concerned estimation of income by treating alleged bogus purchases in diamond trading as disallowable. Tribunal examined evidence and quantified addition at 6% after analysing facts and figures; High Court found the Tribunal's conclusion was supported by material before it and declined to interfere. The Court therefore upheld the reduced disallowance and concluded no substantial question of law arose for determination. The decision affirms deference to Tribunal fact finding on computation of income from suspected sham purchases and limits appellate intervention where conclusions rest on available material. en-us Tue, 05 Sep 2023 00:00:00 +0530 Wed, 11 Feb 2026 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443001 Assessment concerned estimation of income by treating alleged bogus purchases in diamond trading as disallowable. Tribunal examined evidence and quantified addition at 6% after analysing facts and figures; High Court found the Tribunal's conclusion was supported by material before it and declined to interfere. The Court therefore upheld the reduced disallowance and concluded no substantial question of law arose for determination. The decision affirms deference to Tribunal fact finding on computation of income from suspected sham purchases and limits appellate intervention where conclusions rest on available material. Case-Laws Income Tax Tue, 05 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443001