https://www.taxtmi.com/caselaws?id=269454 The tribunal affirmed Ld CIT(A)'s decision, confirming the unexplained investment assessment due to the appellant's failure to prove the genuineness of purchases from M/s Chirag Corporation. Despite claims of payment through cheques, investigations revealed encashment by unrelated parties, leading to the dismissal of the appeal. The tribunal emphasized the lack of evidence linking purchases to the supplier and delayed payments, justifying the assessment. The appellant's reliance on case laws was rejected as inconclusive, resulting in the dismissal of the appeal and upholding of the assessment. en-us Wed, 26 Aug 2015 00:00:00 +0530 Tue, 15 Dec 2015 06:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269454 The tribunal affirmed Ld CIT(A)'s decision, confirming the unexplained investment assessment due to the appellant's failure to prove the genuineness of purchases from M/s Chirag Corporation. Despite claims of payment through cheques, investigations revealed encashment by unrelated parties, leading to the dismissal of the appeal. The tribunal emphasized the lack of evidence linking purchases to the supplier and delayed payments, justifying the assessment. The appellant's reliance on case laws was rejected as inconclusive, resulting in the dismissal of the appeal and upholding of the assessment. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269454