https://www.taxtmi.com/caselaws?id=799763 Alleged bogus purchases linked to accepted sales do not warrant disallowance of the full purchase value where books of account, stock records and quantitative particulars remain unrejected, payments are made through banking channels, and no material disproves the sales. Where accommodation bills may have been used but goods could have been procured from alternative sources, only the embedded profit element is taxable under unexplained expenditure provisions. Consistent profit estimation in earlier assessment years supports applying a 3% rate, confining the addition to 3% of the alleged purchases. en-us Wed, 16 Sep 2026 00:00:00 +0530 Sat, 26 Sep 2026 08:31:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799763 Alleged bogus purchases linked to accepted sales do not warrant disallowance of the full purchase value where books of account, stock records and quantitative particulars remain unrejected, payments are made through banking channels, and no material disproves the sales. Where accommodation bills may have been used but goods could have been procured from alternative sources, only the embedded profit element is taxable under unexplained expenditure provisions. Consistent profit estimation in earlier assessment years supports applying a 3% rate, confining the addition to 3% of the alleged purchases. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799763