https://www.taxtmi.com/caselaws?id=471554 Alleged bogus purchases may warrant an addition limited to the profit element embedded in those purchases rather than disallowance of the full purchase amount as unexplained expenditure. Applying an estimated 15% profit element confines the addition to the presumed benefit arising from non-genuine purchases and deletes the balance disallowance. The approach distinguishes taxable profit attributable to such transactions from the entire recorded purchase value. en-us Mon, 25 May 2026 00:00:00 +0530 Tue, 08 Sep 2026 19:18:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471554 Alleged bogus purchases may warrant an addition limited to the profit element embedded in those purchases rather than disallowance of the full purchase amount as unexplained expenditure. Applying an estimated 15% profit element confines the addition to the presumed benefit arising from non-genuine purchases and deletes the balance disallowance. The approach distinguishes taxable profit attributable to such transactions from the entire recorded purchase value. Case-Laws Income Tax Mon, 25 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471554