https://www.taxtmi.com/caselaws?id=794063 In a trading concern where sales were accepted and routed through banking channels, purchases were treated as accommodation entries because suppliers did not respond to section 133(6) notices, leading to rejection of books under section 145(3). The Tribunal held that applying the gross profit rate of a later year was excessive for the years under appeal, given the assessee's consistent declared gross profit pattern. The addition on alleged bogus purchases was therefore not sustained at the Assessing Officer's rate and was restricted to 1% of the bogus purchases. Relief was granted partly in favour of the assessee. en-us Wed, 24 Jun 2026 00:00:00 +0530 Mon, 29 Jun 2026 09:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794063 In a trading concern where sales were accepted and routed through banking channels, purchases were treated as accommodation entries because suppliers did not respond to section 133(6) notices, leading to rejection of books under section 145(3). The Tribunal held that applying the gross profit rate of a later year was excessive for the years under appeal, given the assessee's consistent declared gross profit pattern. The addition on alleged bogus purchases was therefore not sustained at the Assessing Officer's rate and was restricted to 1% of the bogus purchases. Relief was granted partly in favour of the assessee. Case-Laws Income Tax Wed, 24 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794063