https://www.taxtmi.com/caselaws?id=795144 Bogus-purchase additions cannot extend to the entire purchase value where corresponding sales are undisputed and authenticated stock records establish movement of goods. Stock records prepared from primary purchase and sale invoices, showing no variation between purchases and sales, support the conclusion that goods were actually sold despite suppliers being non-genuine. As tax applies to income or profit rather than gross purchase receipts, only the profit embedded in such purchases is assessable. The full addition was therefore unsustainable, and the assessable income was limited to the embedded profit. 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 Bogus-purchase additions cannot extend to the entire purchase value where corresponding sales are undisputed and authenticated stock records establish movement of goods. Stock records prepared from primary purchase and sale invoices, showing no variation between purchases and sales, support the conclusion that goods were actually sold despite suppliers being non-genuine. As tax applies to income or profit rather than gross purchase receipts, only the profit embedded in such purchases is assessable. The full addition was therefore unsustainable, and the assessable income was limited to the embedded profit. Case-Laws Income Tax Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795144