https://www.taxtmi.com/caselaws?id=784989 Estimation of embedded income from bogus purchases was contested: AO applied a 25% embedded profit element, while appellate authority adopted 6% based on the assessee's declared gross profit; the lower appellate estimate was affirmed and the matter remitted for recomputation accordingly. On disallowance under the rule governing expenditure attributable to exempt income, the tribunal confirmed that where no exempt income is earned, no disallowance can be made, and the Revenue's challenge on this ground was dismissed. en-us Wed, 26 Nov 2025 00:00:00 +0530 Wed, 14 Jan 2026 16:04:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784989 Estimation of embedded income from bogus purchases was contested: AO applied a 25% embedded profit element, while appellate authority adopted 6% based on the assessee's declared gross profit; the lower appellate estimate was affirmed and the matter remitted for recomputation accordingly. On disallowance under the rule governing expenditure attributable to exempt income, the tribunal confirmed that where no exempt income is earned, no disallowance can be made, and the Revenue's challenge on this ground was dismissed. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784989