https://www.taxtmi.com/caselaws?id=188068 The Court dismissed the appeal, affirming the Tribunal's decision to disallow 15% of unverifiable purchases made by the appellant-assessee in the case involving discrepancies in purchases and existence of parties. The Court upheld the rejection of books of accounts under Section 145(3) of the Income Tax Act due to discrepancies and non-existence of parties, emphasizing the appellant's failure to meet the burden of proof regarding the genuineness of transactions. Previous judgments cited by the appellant were distinguished as not applicable to the current case, leading to the dismissal of the appeal. en-us Fri, 06 May 2016 00:00:00 +0530 Thu, 17 Nov 2016 11:15:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188068 The Court dismissed the appeal, affirming the Tribunal's decision to disallow 15% of unverifiable purchases made by the appellant-assessee in the case involving discrepancies in purchases and existence of parties. The Court upheld the rejection of books of accounts under Section 145(3) of the Income Tax Act due to discrepancies and non-existence of parties, emphasizing the appellant's failure to meet the burden of proof regarding the genuineness of transactions. Previous judgments cited by the appellant were distinguished as not applicable to the current case, leading to the dismissal of the appeal. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188068