https://www.taxtmi.com/caselaws?id=795526 Where sales are accepted and procurement from unregistered dealers remains plausible, disallowance of the entire amount of alleged bogus purchases under Section 69C is inappropriate. The profit element embedded in such purchases should instead be estimated by applying the accepted net-profit rate for each relevant assessment year. On that basis, the additions for alleged bogus purchases were confined to the respective net-profit rates applicable to the impugned purchases, rather than the full purchase amounts. en-us Fri, 17 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795526 Where sales are accepted and procurement from unregistered dealers remains plausible, disallowance of the entire amount of alleged bogus purchases under Section 69C is inappropriate. The profit element embedded in such purchases should instead be estimated by applying the accepted net-profit rate for each relevant assessment year. On that basis, the additions for alleged bogus purchases were confined to the respective net-profit rates applicable to the impugned purchases, rather than the full purchase amounts. Case-Laws Income Tax Fri, 17 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795526