https://www.taxtmi.com/caselaws?id=467439 Whether an addition for alleged bogus purchases should be limited to a fair estimate of the profit element was decided by applying a Coordinate Bench approach adopting 6% as the estimated profit imbedded in such purchases; the tribunal adjusted that estimate by the assessee's actual gross profit margin for the year (3.67%) and restricted the disallowance to the difference (2.33% of the alleged bogus purchases), resulting in partial allowance of the assessee's appeal and dismissal of the revenue's appeal. en-us Thu, 20 Feb 2025 00:00:00 +0530 Wed, 18 Mar 2026 19:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467439 Whether an addition for alleged bogus purchases should be limited to a fair estimate of the profit element was decided by applying a Coordinate Bench approach adopting 6% as the estimated profit imbedded in such purchases; the tribunal adjusted that estimate by the assessee's actual gross profit margin for the year (3.67%) and restricted the disallowance to the difference (2.33% of the alleged bogus purchases), resulting in partial allowance of the assessee's appeal and dismissal of the revenue's appeal. Case-Laws Income Tax Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467439