https://www.taxtmi.com/caselaws?id=799277 Bogus-purchase disallowance may be confined to the estimated gross-profit component where full disallowance is not warranted on the facts. In reassessment proceedings under the Income-tax Act, the accepted approach sustained an addition of 3% of the purchase value, representing the estimated gross-profit element, instead of disallowing the entire value of the alleged bogus purchases. en-us Mon, 29 Jun 2026 00:00:00 +0530 Sat, 19 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799277 Bogus-purchase disallowance may be confined to the estimated gross-profit component where full disallowance is not warranted on the facts. In reassessment proceedings under the Income-tax Act, the accepted approach sustained an addition of 3% of the purchase value, representing the estimated gross-profit element, instead of disallowing the entire value of the alleged bogus purchases. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799277