https://www.taxtmi.com/caselaws?id=795144 Where sales are undisputed and authenticated stock records establish corresponding movement of goods, non-genuine suppliers alone do not justify treating the entire purchase value as income. The records, prepared from primary purchase and sale invoices, showed no variation between purchases and sales, and no disproportionate sales were identified. As tax applies to income or profit rather than gross purchase receipts, only the profit embedded in alleged bogus purchases may be assessed. The article states that the full addition was unsustainable and that profit at 1.15% of the purchase value was treated as income. en-us Tue, 14 Jul 2026 00:00:00 +0530 Fri, 17 Jul 2026 08:37:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795144 Where sales are undisputed and authenticated stock records establish corresponding movement of goods, non-genuine suppliers alone do not justify treating the entire purchase value as income. The records, prepared from primary purchase and sale invoices, showed no variation between purchases and sales, and no disproportionate sales were identified. As tax applies to income or profit rather than gross purchase receipts, only the profit embedded in alleged bogus purchases may be assessed. The article states that the full addition was unsustainable and that profit at 1.15% of the purchase value was treated as income. Case-Laws Income Tax Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795144