https://www.taxtmi.com/caselaws?id=758390 Where sales are accepted and only purchases are disputed as bogus, the addition is ordinarily confined to the profit element embedded in the disputed purchases rather than the full purchase value. The assessee had produced trading records and the sales were not disturbed, so the disputed purchases were treated as warranting only an estimated gross profit addition. The addition was restricted to 6.19% of the disputed purchases, giving the assessee partial relief. en-us Wed, 28 Aug 2024 00:00:00 +0530 Fri, 13 Sep 2024 08:31:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758390 Where sales are accepted and only purchases are disputed as bogus, the addition is ordinarily confined to the profit element embedded in the disputed purchases rather than the full purchase value. The assessee had produced trading records and the sales were not disturbed, so the disputed purchases were treated as warranting only an estimated gross profit addition. The addition was restricted to 6.19% of the disputed purchases, giving the assessee partial relief. Case-Laws Income Tax Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758390