https://www.taxtmi.com/caselaws?id=341683 The Tribunal overturned the disallowance of trading addition related to alleged bogus purchases from M/s Mahaveer Textiles. It ruled in favor of the assessee, citing insufficient evidence from the Revenue to prove the purchases as non-genuine. The Tribunal emphasized the importance of concrete evidence and rejected the Revenue's reliance on past history and lack of verification. The appeal was allowed, and the disallowance was rejected, highlighting the need for substantial proof in such cases. en-us Mon, 10 Apr 2017 00:00:00 +0530 Fri, 14 Apr 2017 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341683 The Tribunal overturned the disallowance of trading addition related to alleged bogus purchases from M/s Mahaveer Textiles. It ruled in favor of the assessee, citing insufficient evidence from the Revenue to prove the purchases as non-genuine. The Tribunal emphasized the importance of concrete evidence and rejected the Revenue's reliance on past history and lack of verification. The appeal was allowed, and the disallowance was rejected, highlighting the need for substantial proof in such cases. Case-Laws Income Tax Mon, 10 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341683