https://www.taxtmi.com/caselaws?id=772168 Estimation of income dispute concerned allegations of bogus purchases where reliance was placed on GST-recorded delivery and documentary proof of goods entering the State and reaching factory premises. Acceptance of the books of account by the appellate authority and proof that disputed purchases were at par or lower than other purchases undermined the premise of profit-embedded bogus purchases; consequently imputing income by applying a gross profit rate on those purchases was found unjustified and the related addition was rejected, resulting in allowance of the taxpayer's contention on this point. en-us Fri, 20 Sep 2024 00:00:00 +0530 Fri, 16 Jan 2026 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772168 Estimation of income dispute concerned allegations of bogus purchases where reliance was placed on GST-recorded delivery and documentary proof of goods entering the State and reaching factory premises. Acceptance of the books of account by the appellate authority and proof that disputed purchases were at par or lower than other purchases undermined the premise of profit-embedded bogus purchases; consequently imputing income by applying a gross profit rate on those purchases was found unjustified and the related addition was rejected, resulting in allowance of the taxpayer's contention on this point. Case-Laws Income Tax Fri, 20 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772168