https://www.taxtmi.com/caselaws?id=190162 The Tribunal dismissed the appeals filed by the Assessing Officer and allowed the appeals of the assessee, ruling that the additions made under Section 69 of the Income Tax Act were not justified. The Tribunal emphasized the need for further investigation and held that since sales were accepted as genuine, the purchases could not be entirely considered bogus. Relying on precedents, the Tribunal reversed the First Appellate Authority's decision to partially uphold the additions, leading to the deletion of the additions made by the FAA. en-us Fri, 22 Jul 2016 00:00:00 +0530 Wed, 08 Feb 2017 09:40:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190162 The Tribunal dismissed the appeals filed by the Assessing Officer and allowed the appeals of the assessee, ruling that the additions made under Section 69 of the Income Tax Act were not justified. The Tribunal emphasized the need for further investigation and held that since sales were accepted as genuine, the purchases could not be entirely considered bogus. Relying on precedents, the Tribunal reversed the First Appellate Authority's decision to partially uphold the additions, leading to the deletion of the additions made by the FAA. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190162