https://www.taxtmi.com/caselaws?id=464065 Where sales are accepted, alleged bogus purchases cannot be disallowed in full merely because suppliers or further supporting evidence are not produced. The assessee had shown purchase vouchers and banking-channel payments, and the purchases were treated as grey-market transactions, but the absence of doubted sales meant that only the profit element embedded in the disputed purchases could be brought to tax. On that basis, complete disallowance was held unwarranted and the addition was confined to an estimated 12.5% of the disputed purchases. en-us Mon, 02 May 2022 00:00:00 +0530 Tue, 30 Sep 2025 20:02:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464065 Where sales are accepted, alleged bogus purchases cannot be disallowed in full merely because suppliers or further supporting evidence are not produced. The assessee had shown purchase vouchers and banking-channel payments, and the purchases were treated as grey-market transactions, but the absence of doubted sales meant that only the profit element embedded in the disputed purchases could be brought to tax. On that basis, complete disallowance was held unwarranted and the addition was confined to an estimated 12.5% of the disputed purchases. Case-Laws Income Tax Mon, 02 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464065