https://www.taxtmi.com/caselaws?id=71980 The Tribunal decided to remand the case to the Assessing Officer (AO) for further inquiry into the genuineness of alleged bogus purchases. The Third Member sided with the Accountant Member, emphasizing the taxpayer's burden to prove purchase authenticity. The Tribunal granted the AO authority to conduct additional investigations, including verifying cash withdrawals and consulting Sales Tax authorities. The appeal was allowed for statistical purposes, underscoring the necessity of comprehensive verification before making financial adjustments. en-us Thu, 29 Jan 2009 00:00:00 +0530 Mon, 08 Jan 2024 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71980 The Tribunal decided to remand the case to the Assessing Officer (AO) for further inquiry into the genuineness of alleged bogus purchases. The Third Member sided with the Accountant Member, emphasizing the taxpayer's burden to prove purchase authenticity. The Tribunal granted the AO authority to conduct additional investigations, including verifying cash withdrawals and consulting Sales Tax authorities. The appeal was allowed for statistical purposes, underscoring the necessity of comprehensive verification before making financial adjustments. Case-Laws Income Tax Thu, 29 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71980