https://www.taxtmi.com/caselaws?id=326842 The Tribunal upheld the First Appellate Authority's decision to delete the disallowance made under the head of purchase expenses, dismissing the appeal filed by the Assessing Officer. The Tribunal found that the assessee had provided necessary evidence to refute the AO's allegations of fictitious purchases, and the AO failed to provide valid reasons for disallowance. The Tribunal emphasized that when sales are genuine, no addition for bogus purchases should be made, and since all details were furnished by the assessee and not considered by the AO, the appeal was dismissed. en-us Wed, 10 Feb 2016 00:00:00 +0530 Mon, 25 Apr 2016 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326842 The Tribunal upheld the First Appellate Authority's decision to delete the disallowance made under the head of purchase expenses, dismissing the appeal filed by the Assessing Officer. The Tribunal found that the assessee had provided necessary evidence to refute the AO's allegations of fictitious purchases, and the AO failed to provide valid reasons for disallowance. The Tribunal emphasized that when sales are genuine, no addition for bogus purchases should be made, and since all details were furnished by the assessee and not considered by the AO, the appeal was dismissed. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326842