https://www.taxtmi.com/caselaws?id=775512 Where bogus purchases are established, the addition may be confined to the profit element embedded in the purchases rather than the full purchase value. Applying binding jurisdictional precedent, the appellate authority restricted the disallowance to 12.5% of the purchases, and that approach was upheld because the revenue offered no basis to depart from the settled view. The full disallowance was therefore not restored, and the relief granted to the assessee on the quantum of addition was sustained. en-us Mon, 21 Jul 2025 00:00:00 +0530 Sat, 26 Jul 2025 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775512 Where bogus purchases are established, the addition may be confined to the profit element embedded in the purchases rather than the full purchase value. Applying binding jurisdictional precedent, the appellate authority restricted the disallowance to 12.5% of the purchases, and that approach was upheld because the revenue offered no basis to depart from the settled view. The full disallowance was therefore not restored, and the relief granted to the assessee on the quantum of addition was sustained. Case-Laws Income Tax Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775512