On review of searches related to the Bhanwarlal Jain Group, the Revenue treated all purchase transactions as bogus, resulting in a 100% disallowance by the AO. However, the CIT(A) limited this disallowance to 6%, a decision upheld by the Tribunal. The Court dismissed Revenue’s appeals for assessment years 2011-12 and 2013-14, affirming that only the income component of bogus purchases should be taxed.(AY. 2011-12) (AY. 2013-14)