https://www.taxtmi.com/caselaws?id=801323 Allegedly non-genuine purchases linked to undisputed sales require an addition limited to the embedded profit element rather than the full purchase amount, following rejection of books of account under Section 145(3). The profit estimate should reflect the relevant facts and disclosed gross profit. Where materially similar facts and the same business existed in the immediately preceding year, with no factual distinction for the current year, a 5% profit rate applies instead of 12.5%. en-us Tue, 22 Sep 2026 00:00:00 +0530 Mon, 19 Oct 2026 07:01:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801323 Allegedly non-genuine purchases linked to undisputed sales require an addition limited to the embedded profit element rather than the full purchase amount, following rejection of books of account under Section 145(3). The profit estimate should reflect the relevant facts and disclosed gross profit. Where materially similar facts and the same business existed in the immediately preceding year, with no factual distinction for the current year, a 5% profit rate applies instead of 12.5%. Case-Laws Income Tax Tue, 22 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801323