https://www.taxtmi.com/caselaws?id=469050 In alleged bogus purchase cases, the assessee must first prove the genuineness of the purchases; where supplier notices remain unserved, the parties are not produced, and no delivery, transport, stock-movement, or supporting records are filed, the primary onus is not discharged and the cross-examination objection does not assist the assessee. Where corresponding sales are accepted, however, only the profit element embedded in the unproved purchases is brought to tax, not the entire purchase amount. The addition is therefore limited to an estimated profit, subject to verification and credit for gross profit already disclosed. en-us Thu, 21 Dec 2023 00:00:00 +0530 Mon, 01 Jun 2026 15:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469050 In alleged bogus purchase cases, the assessee must first prove the genuineness of the purchases; where supplier notices remain unserved, the parties are not produced, and no delivery, transport, stock-movement, or supporting records are filed, the primary onus is not discharged and the cross-examination objection does not assist the assessee. Where corresponding sales are accepted, however, only the profit element embedded in the unproved purchases is brought to tax, not the entire purchase amount. The addition is therefore limited to an estimated profit, subject to verification and credit for gross profit already disclosed. Case-Laws Income Tax Thu, 21 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469050