https://www.taxtmi.com/caselaws?id=800093 Alleged bogus purchases in a wholesale industrial-chemicals business need not be disallowed in full under Section 69C where procurement from unregistered dealers remains possible and corresponding sales are undisputed. The appropriate adjustment is confined to estimating the profit element embedded in unverified purchases. A lump-sum gross-profit disallowance of 5% was retained, while the remaining addition was deleted. en-us Wed, 09 Sep 2026 00:00:00 +0530 Thu, 01 Oct 2026 07:40:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800093 Alleged bogus purchases in a wholesale industrial-chemicals business need not be disallowed in full under Section 69C where procurement from unregistered dealers remains possible and corresponding sales are undisputed. The appropriate adjustment is confined to estimating the profit element embedded in unverified purchases. A lump-sum gross-profit disallowance of 5% was retained, while the remaining addition was deleted. Case-Laws Income Tax Wed, 09 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800093