https://www.taxtmi.com/caselaws?id=329514 The Court upheld the Tribunal's decision, confirming the disallowance of a specific amount challenged by the appellant. The Court found that the disallowance was not justified, deleted the amount, and dismissed the appellant's appeal. The Court also addressed the issue of adding profit margins on unaccounted sales, emphasizing the lack of documentary evidence provided by the appellant to support their contentions. The decision was based on the lack of genuineness of purchases and involvement of apparent sellers, aligning with a previous ruling on inflated purchase prices and withdrawal of amounts by bearer cheques. en-us Mon, 20 Jun 2016 00:00:00 +0530 Mon, 04 Jul 2016 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329514 The Court upheld the Tribunal's decision, confirming the disallowance of a specific amount challenged by the appellant. The Court found that the disallowance was not justified, deleted the amount, and dismissed the appellant's appeal. The Court also addressed the issue of adding profit margins on unaccounted sales, emphasizing the lack of documentary evidence provided by the appellant to support their contentions. The decision was based on the lack of genuineness of purchases and involvement of apparent sellers, aligning with a previous ruling on inflated purchase prices and withdrawal of amounts by bearer cheques. Case-Laws Income Tax Mon, 20 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329514