https://www.taxtmi.com/caselaws?id=190380 The Tribunal dismissed the Revenue's appeal against the deletion of an addition under Sec. 69C of the Act, affirming the Ld. CIT(A)'s decision. The Tribunal emphasized the necessity of purchases for sales, lack of adverse findings on purchase invoices, complete purchase details, and reflected payments in bank statements. It highlighted the importance of corroborative evidence beyond suspicion and noted the absence of independent inquiries by the Assessing Officer. The decision was supported by a High Court precedent, ultimately upholding the deletion of the addition in question. en-us Thu, 16 Jul 2015 00:00:00 +0530 Tue, 14 Feb 2017 08:46:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190380 The Tribunal dismissed the Revenue's appeal against the deletion of an addition under Sec. 69C of the Act, affirming the Ld. CIT(A)'s decision. The Tribunal emphasized the necessity of purchases for sales, lack of adverse findings on purchase invoices, complete purchase details, and reflected payments in bank statements. It highlighted the importance of corroborative evidence beyond suspicion and noted the absence of independent inquiries by the Assessing Officer. The decision was supported by a High Court precedent, ultimately upholding the deletion of the addition in question. Case-Laws Income Tax Thu, 16 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190380