https://www.taxtmi.com/caselaws?id=177465 The Tribunal overturned the decision of the Ld. CIT(A) and directed the Assessing Officer to delete the addition of &8377; 4,98,80,892/- under section 69C of the Income Tax Act. The Tribunal found the purchases supported by proper invoices and payment evidence, refuting suspicions of illegitimacy. It criticized the lack of verification by authorities and emphasized the importance of substantiating payments and work done. The Tribunal highlighted the absence of cash receipts from suppliers, concluding that the purchases were legitimate and should not be added to the assessee's total income. en-us Fri, 28 Nov 2014 00:00:00 +0530 Sat, 09 Jan 2016 16:33:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177465 The Tribunal overturned the decision of the Ld. CIT(A) and directed the Assessing Officer to delete the addition of &8377; 4,98,80,892/- under section 69C of the Income Tax Act. The Tribunal found the purchases supported by proper invoices and payment evidence, refuting suspicions of illegitimacy. It criticized the lack of verification by authorities and emphasized the importance of substantiating payments and work done. The Tribunal highlighted the absence of cash receipts from suppliers, concluding that the purchases were legitimate and should not be added to the assessee's total income. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177465