https://www.taxtmi.com/caselaws?id=248837 The ITAT upheld the CIT(A)'s decision, confirming the genuineness of purchases from Surat parties for the assessment year 2007-2008. The ITAT noted the assessee provided substantial documentary evidence supporting the purchase claims, including invoices, payment evidence, confirmations, and bank statements. The ITAT criticized the AO for not verifying the transacting parties' records despite availability. Consequently, the ITAT dismissed the Revenue's appeal, emphasizing the assessee's ability to prove the transactions' legitimacy and the AO's failure to conduct necessary verifications. en-us Fri, 06 Jun 2014 00:00:00 +0530 Thu, 26 Jun 2014 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248837 The ITAT upheld the CIT(A)'s decision, confirming the genuineness of purchases from Surat parties for the assessment year 2007-2008. The ITAT noted the assessee provided substantial documentary evidence supporting the purchase claims, including invoices, payment evidence, confirmations, and bank statements. The ITAT criticized the AO for not verifying the transacting parties' records despite availability. Consequently, the ITAT dismissed the Revenue's appeal, emphasizing the assessee's ability to prove the transactions' legitimacy and the AO's failure to conduct necessary verifications. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248837