https://www.taxtmi.com/caselaws?id=460977 In disputes over bogus purchases supported by accommodation bills from hawala parties, the Bombay High Court reiterated that purchases cannot be rejected without disturbing the sales in a trader's case. Applying the principles in M/s. Mohammad Haji Adam Co. and M/s. Paramshakti Distributors Pvt. Ltd., the Tribunal's approach of restricting the addition to the extent of bringing the gross profit rate on disputed purchases in line with genuine purchases was treated as correct. The operative point is that income estimation must be confined to the profit element where sales are accepted. en-us Thu, 03 Mar 2022 00:00:00 +0530 Wed, 05 Mar 2025 11:50:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460977 In disputes over bogus purchases supported by accommodation bills from hawala parties, the Bombay High Court reiterated that purchases cannot be rejected without disturbing the sales in a trader's case. Applying the principles in M/s. Mohammad Haji Adam Co. and M/s. Paramshakti Distributors Pvt. Ltd., the Tribunal's approach of restricting the addition to the extent of bringing the gross profit rate on disputed purchases in line with genuine purchases was treated as correct. The operative point is that income estimation must be confined to the profit element where sales are accepted. Case-Laws Income Tax Thu, 03 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460977