https://www.taxtmi.com/caselaws?id=184386 The Tribunal ruled in favor of the assessee in a tax appeal. It directed the assessing officer to delete the addition made under section 68 of the Income Tax Act, as partial purchases were accepted without proper inquiry, rendering the addition unsustainable. Additionally, the Tribunal ordered a fresh examination of the addition made under section 40(a)(ia) based on the retrospective nature of the proviso, following a decision of the Delhi High Court. The appeal was treated as allowed for statistical purposes. en-us Fri, 06 May 2016 00:00:00 +0530 Thu, 07 Jul 2016 11:28:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184386 The Tribunal ruled in favor of the assessee in a tax appeal. It directed the assessing officer to delete the addition made under section 68 of the Income Tax Act, as partial purchases were accepted without proper inquiry, rendering the addition unsustainable. Additionally, the Tribunal ordered a fresh examination of the addition made under section 40(a)(ia) based on the retrospective nature of the proviso, following a decision of the Delhi High Court. The appeal was treated as allowed for statistical purposes. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184386