https://www.taxtmi.com/caselaws?id=470609 Investigation-wing information identifying a supplier as an accommodation-entry provider and the assessee as a beneficiary of alleged non-genuine purchase bills is described as fresh tangible material supporting reassessment for escaped income. For purchases treated as non-genuine, the article states that the disallowance should be confined to the profit element where the same supplier, factual setting and circumstances were unchanged from earlier years. It identifies 12.5% of the disputed purchases as a fair estimate of the grey-market benefit and emphasises consistency: absent a material change in facts or law, the earlier approach to estimating embedded profit should ordinarily continue. en-us Tue, 26 Aug 2025 00:00:00 +0530 Fri, 31 Jul 2026 19:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470609 Investigation-wing information identifying a supplier as an accommodation-entry provider and the assessee as a beneficiary of alleged non-genuine purchase bills is described as fresh tangible material supporting reassessment for escaped income. For purchases treated as non-genuine, the article states that the disallowance should be confined to the profit element where the same supplier, factual setting and circumstances were unchanged from earlier years. It identifies 12.5% of the disputed purchases as a fair estimate of the grey-market benefit and emphasises consistency: absent a material change in facts or law, the earlier approach to estimating embedded profit should ordinarily continue. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470609