https://www.taxtmi.com/caselaws?id=187568 The Tribunal upheld the Commissioner (Appeals)' decision to delete the addition under section 69C of the Income Tax Act for the assessment year 2010-11. The Tribunal found that the Department failed to conclusively prove the purchases as bogus, as the Assessing Officer relied on information from the Sales Tax Department without conducting a proper investigation. The Tribunal emphasized that the assessee provided substantial evidence supporting the genuineness of the transactions, including proper banking channels and lack of evidence of funds being routed back. Consequently, the Tribunal dismissed the Department's appeal, affirming the deletion of the addition. en-us Mon, 29 Feb 2016 00:00:00 +0530 Thu, 27 Oct 2016 10:39:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187568 The Tribunal upheld the Commissioner (Appeals)' decision to delete the addition under section 69C of the Income Tax Act for the assessment year 2010-11. The Tribunal found that the Department failed to conclusively prove the purchases as bogus, as the Assessing Officer relied on information from the Sales Tax Department without conducting a proper investigation. The Tribunal emphasized that the assessee provided substantial evidence supporting the genuineness of the transactions, including proper banking channels and lack of evidence of funds being routed back. Consequently, the Tribunal dismissed the Department's appeal, affirming the deletion of the addition. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187568