https://www.taxtmi.com/caselaws?id=271799 The Appellate Tribunal overturned the disallowance of Rs. 1.47 Crores in a case challenging the authenticity of purchases from suppliers Sendoz Steel and Ronak Industries. The Tribunal found the Assessing Officer's reliance on information from the Sales Tax Department insufficient and emphasized the documentary evidence provided by the assessee. Stressing the necessity of thorough investigation beyond mere suspicions, the Tribunal ruled in favor of the assessee, highlighting the importance of concrete evidence in establishing the genuineness of transactions. en-us Wed, 03 Feb 2016 00:00:00 +0530 Wed, 17 Feb 2016 06:58:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271799 The Appellate Tribunal overturned the disallowance of Rs. 1.47 Crores in a case challenging the authenticity of purchases from suppliers Sendoz Steel and Ronak Industries. The Tribunal found the Assessing Officer's reliance on information from the Sales Tax Department insufficient and emphasized the documentary evidence provided by the assessee. Stressing the necessity of thorough investigation beyond mere suspicions, the Tribunal ruled in favor of the assessee, highlighting the importance of concrete evidence in establishing the genuineness of transactions. Case-Laws Income Tax Wed, 03 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271799