https://www.taxtmi.com/caselaws?id=784437 The dominant issue was whether purchases treated as bogus could be disallowed where the assessee produced supplier bills and the AO neither disproved the documents nor disputed corresponding sales. The ITAT held that the AO failed to conduct any inquiry to rebut the bills, did not allege any bogus sales, and made no stock/trading analysis to show that purchases were non-genuine. Since the assessee's sales/supplies were made out of the impugned purchases, the sales were offered to tax, and the profit stood accepted, the purchases could not be branded as bogus. The appellate finding upholding the purchases was affirmed and the revenue's appeal was dismissed. en-us Wed, 31 Dec 2025 00:00:00 +0530 Mon, 05 Jan 2026 08:04:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784437 The dominant issue was whether purchases treated as bogus could be disallowed where the assessee produced supplier bills and the AO neither disproved the documents nor disputed corresponding sales. The ITAT held that the AO failed to conduct any inquiry to rebut the bills, did not allege any bogus sales, and made no stock/trading analysis to show that purchases were non-genuine. Since the assessee's sales/supplies were made out of the impugned purchases, the sales were offered to tax, and the profit stood accepted, the purchases could not be branded as bogus. The appellate finding upholding the purchases was affirmed and the revenue's appeal was dismissed. Case-Laws Income Tax Wed, 31 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784437