https://www.taxtmi.com/caselaws?id=788967 Alleged bogus purchase additions could not be sustained where the assessee produced invoices, bank statements, confirmations, GST records and stock details, and the record showed no defects in the books or supporting evidence. The reassessment and addition were based on a Suspicious Transaction Report and suspicion, which was insufficient without cogent proof that the purchases were non-genuine. Estimation of disallowance by restricting the addition to a gross profit percentage was also unjustified because the Revenue did not establish actual inflation of purchase value. The full addition was deleted. en-us Thu, 05 Mar 2026 00:00:00 +0530 Wed, 01 Apr 2026 07:51:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788967 Alleged bogus purchase additions could not be sustained where the assessee produced invoices, bank statements, confirmations, GST records and stock details, and the record showed no defects in the books or supporting evidence. The reassessment and addition were based on a Suspicious Transaction Report and suspicion, which was insufficient without cogent proof that the purchases were non-genuine. Estimation of disallowance by restricting the addition to a gross profit percentage was also unjustified because the Revenue did not establish actual inflation of purchase value. The full addition was deleted. Case-Laws Income Tax Thu, 05 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788967