https://www.taxtmi.com/caselaws?id=467884 Where sales are accepted, alleged bogus purchases are not to be disallowed in full; the addition is confined to the profit element embedded in those purchases. Applying that principle, the issue was restored to the Assessing Officer for fresh quantification by aligning the gross profit rate on the disputed purchases with the rate earned on genuine purchases, after giving the assessee an opportunity of being heard. The appeals were allowed for statistical purposes, leaving recomputation to the Assessing Officer on the gross profit basis. en-us Wed, 30 Sep 2020 00:00:00 +0530 Wed, 08 Apr 2026 15:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467884 Where sales are accepted, alleged bogus purchases are not to be disallowed in full; the addition is confined to the profit element embedded in those purchases. Applying that principle, the issue was restored to the Assessing Officer for fresh quantification by aligning the gross profit rate on the disputed purchases with the rate earned on genuine purchases, after giving the assessee an opportunity of being heard. The appeals were allowed for statistical purposes, leaving recomputation to the Assessing Officer on the gross profit basis. Case-Laws Income Tax Wed, 30 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467884