https://www.taxtmi.com/caselaws?id=791355 Where alleged bogus purchases are not supported by delivery evidence and the supplier transaction is unproved, but the corresponding sales are accepted and the goods are shown to have been sold onward, the addition is ordinarily confined to the embedded profit element rather than the full purchase value. On those facts, the Tribunal deleted the impugned addition because the assessee had already voluntarily offered 12.5% of the disputed purchases and no further material justified a higher addition. The separate challenge to penalty proceedings under section 271(1)(c) was dismissed as premature because no final penalty determination had yet been made. en-us Thu, 07 May 2026 00:00:00 +0530 Sat, 09 May 2026 07:13:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791355 Where alleged bogus purchases are not supported by delivery evidence and the supplier transaction is unproved, but the corresponding sales are accepted and the goods are shown to have been sold onward, the addition is ordinarily confined to the embedded profit element rather than the full purchase value. On those facts, the Tribunal deleted the impugned addition because the assessee had already voluntarily offered 12.5% of the disputed purchases and no further material justified a higher addition. The separate challenge to penalty proceedings under section 271(1)(c) was dismissed as premature because no final penalty determination had yet been made. Case-Laws Income Tax Thu, 07 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791355