https://www.taxtmi.com/caselaws?id=766974 HC held that estimating a notional profit on alleged bogus purchases to effectively allow most purchase deductions is impermissible where Section 69C applies. The court rejected the appellate approach and answered the question against revenue and for the assessee regarding purchases from various suppliers, except two specified suppliers. For purchases from those two suppliers the orders of the CIT(A) and Tribunal were reversed in favour of revenue, with total additions limited to Rs.1,00,10,773, the aggregate purchase amount from those two suppliers. en-us Wed, 05 Mar 2025 00:00:00 +0530 Wed, 20 Aug 2025 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766974 HC held that estimating a notional profit on alleged bogus purchases to effectively allow most purchase deductions is impermissible where Section 69C applies. The court rejected the appellate approach and answered the question against revenue and for the assessee regarding purchases from various suppliers, except two specified suppliers. For purchases from those two suppliers the orders of the CIT(A) and Tribunal were reversed in favour of revenue, with total additions limited to Rs.1,00,10,773, the aggregate purchase amount from those two suppliers. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766974