https://www.taxtmi.com/caselaws?id=466118 Estimation of income from bogus purchases was addressed: the principle that admitted bogus purchases can be treated as such was accepted, and that finding is affirmed. The quantification methodology ordering a blanket 10% disallowance of total purchases was found unjustified where the AO had quantified varying disallowances; accordingly the 10% directive was modified to apply only to the extent of identified bogus purchases and the matter was restored to the assessing authority for fresh computation consistent with that limitation. en-us Wed, 27 Jul 2022 00:00:00 +0530 Sun, 25 Jan 2026 21:24:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466118 Estimation of income from bogus purchases was addressed: the principle that admitted bogus purchases can be treated as such was accepted, and that finding is affirmed. The quantification methodology ordering a blanket 10% disallowance of total purchases was found unjustified where the AO had quantified varying disallowances; accordingly the 10% directive was modified to apply only to the extent of identified bogus purchases and the matter was restored to the assessing authority for fresh computation consistent with that limitation. Case-Laws Income Tax Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466118