https://www.taxtmi.com/caselaws?id=768568 Alleged bogus purchases were examined against the assessee's failure to prove genuine transactions; the primary onus to substantiate purchases was held lacking, and adverse inferences drawn from non production of documents. The Tribunal's speculative reduction of disallowance to 3% was found legally erroneous because it contradicted controlling precedent and the factual findings supporting full disallowance; consequently the appellate orders reducing the addition were reversed and the assessing officer's disallowance of the purchases was restored in favour of revenue. en-us Mon, 07 Apr 2025 00:00:00 +0530 Mon, 09 Feb 2026 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768568 Alleged bogus purchases were examined against the assessee's failure to prove genuine transactions; the primary onus to substantiate purchases was held lacking, and adverse inferences drawn from non production of documents. The Tribunal's speculative reduction of disallowance to 3% was found legally erroneous because it contradicted controlling precedent and the factual findings supporting full disallowance; consequently the appellate orders reducing the addition were reversed and the assessing officer's disallowance of the purchases was restored in favour of revenue. Case-Laws Income Tax Mon, 07 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768568