https://www.taxtmi.com/caselaws?id=310402 Where alleged hawala or bogus purchases are not supported by proof of actual receipt, movement, or consumption of goods, the entire amount represented by fictitious invoices may be disallowed and the addition need not be confined to gross profit. The article notes that the assessee could not substantiate the existence of suppliers or produce stock records, delivery documents, weighment slips, octroi receipts, or goods received notes, and declared sales alone were insufficient to offset the evidentiary failure. The gross profit restriction was rejected on these facts, and the full disallowance of the impugned purchases was upheld. en-us Tue, 15 Nov 2022 00:00:00 +0530 Sun, 22 Oct 2023 21:43:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310402 Where alleged hawala or bogus purchases are not supported by proof of actual receipt, movement, or consumption of goods, the entire amount represented by fictitious invoices may be disallowed and the addition need not be confined to gross profit. The article notes that the assessee could not substantiate the existence of suppliers or produce stock records, delivery documents, weighment slips, octroi receipts, or goods received notes, and declared sales alone were insufficient to offset the evidentiary failure. The gross profit restriction was rejected on these facts, and the full disallowance of the impugned purchases was upheld. Case-Laws Income Tax Tue, 15 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310402