https://www.taxtmi.com/caselaws?id=331376 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s order on both issues. The deletions of the disallowances totaling Rs. 1,12,08,805/- were justified due to the genuineness of the transactions, absence of tax evasion, and adherence to judicial precedents. The Tribunal emphasized that disallowances cannot be made based on assumptions without contrary evidence. en-us Fri, 01 Jul 2016 00:00:00 +0530 Wed, 10 Apr 2019 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331376 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s order on both issues. The deletions of the disallowances totaling Rs. 1,12,08,805/- were justified due to the genuineness of the transactions, absence of tax evasion, and adherence to judicial precedents. The Tribunal emphasized that disallowances cannot be made based on assumptions without contrary evidence. Case-Laws Income Tax Fri, 01 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331376