https://www.taxtmi.com/caselaws?id=327038 Additions for alleged inflated or bogus purchases cannot survive where the record shows purchase bills, banking payments, import documents and supporting evidence of actual movement of goods, and no independent corroboration exists. An addition for cessation of liability is also unsustainable when the liability continues in the books and there is no material showing write-off, waiver or abandonment. Freight and related expenses were partly allowed on the basis of available supporting materials, and that relief was upheld. Deduction under section 80HHC on DEPB sale proceeds was allowable because the statutory conditions under the third proviso were established on the facts. The revenue's appeal failed on all contested issues. en-us Wed, 20 Jan 2016 00:00:00 +0530 Mon, 02 May 2016 00:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327038 Additions for alleged inflated or bogus purchases cannot survive where the record shows purchase bills, banking payments, import documents and supporting evidence of actual movement of goods, and no independent corroboration exists. An addition for cessation of liability is also unsustainable when the liability continues in the books and there is no material showing write-off, waiver or abandonment. Freight and related expenses were partly allowed on the basis of available supporting materials, and that relief was upheld. Deduction under section 80HHC on DEPB sale proceeds was allowable because the statutory conditions under the third proviso were established on the facts. The revenue's appeal failed on all contested issues. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327038