https://www.taxtmi.com/caselaws?id=339103 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s deletion of disallowances under Sections 40(a)(ia) and 69C. The Tribunal found the assessee compliant with statutory requirements and adequately substantiated transaction genuineness. The decision was based on the retrospective effect of the amendment to Section 40(a)(ia) and the lack of concrete evidence to doubt the purchases' authenticity from suspicious dealers. The order was pronounced on 15th February 2017. en-us Wed, 15 Feb 2017 00:00:00 +0530 Sat, 18 Feb 2017 14:50:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339103 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s deletion of disallowances under Sections 40(a)(ia) and 69C. The Tribunal found the assessee compliant with statutory requirements and adequately substantiated transaction genuineness. The decision was based on the retrospective effect of the amendment to Section 40(a)(ia) and the lack of concrete evidence to doubt the purchases' authenticity from suspicious dealers. The order was pronounced on 15th February 2017. Case-Laws Income Tax Wed, 15 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339103