https://www.taxtmi.com/caselaws?id=330084 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 of the Income-tax Act, 1961, amounting to Rs. 118.64 crores. It was found that the purchases made by the assessee were genuine, supported by proper documentation, and reflected in the audited books of both the assessee and suppliers. The Tribunal concluded that the Department failed to provide substantial evidence to challenge the authenticity of the transactions, leading to the dismissal of the Department's appeal. en-us Wed, 24 Feb 2016 00:00:00 +0530 Mon, 18 Jul 2016 11:15:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330084 The Tribunal upheld the CIT(A)'s decision to delete the addition under Section 68 of the Income-tax Act, 1961, amounting to Rs. 118.64 crores. It was found that the purchases made by the assessee were genuine, supported by proper documentation, and reflected in the audited books of both the assessee and suppliers. The Tribunal concluded that the Department failed to provide substantial evidence to challenge the authenticity of the transactions, leading to the dismissal of the Department's appeal. Case-Laws Income Tax Wed, 24 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330084