https://www.taxtmi.com/caselaws?id=786939 Where books of account were not rejected and quantitative purchase and sale records were maintained and accepted, unverifiable purchases from two suppliers were not treated as wholly non-genuine; instead the profit element was taxed by applying the normal gross profit rate (6.5%) to those specified purchases, with the balance deletion. Conversely, commission and brokerage payments supported by ledgers, bills, bank payments and TDS, without evidence of return of payments or fictitious recipients, could not be disallowed; the entire disallowance was deleted. The operative principle is estimation of taxable profit, not blanket addition of purchase amounts, absent a cash trail or rejected books. en-us Thu, 19 Feb 2026 00:00:00 +0530 Mon, 23 Feb 2026 07:38:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786939 Where books of account were not rejected and quantitative purchase and sale records were maintained and accepted, unverifiable purchases from two suppliers were not treated as wholly non-genuine; instead the profit element was taxed by applying the normal gross profit rate (6.5%) to those specified purchases, with the balance deletion. Conversely, commission and brokerage payments supported by ledgers, bills, bank payments and TDS, without evidence of return of payments or fictitious recipients, could not be disallowed; the entire disallowance was deleted. The operative principle is estimation of taxable profit, not blanket addition of purchase amounts, absent a cash trail or rejected books. Case-Laws Income Tax Thu, 19 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786939