https://www.taxtmi.com/caselaws?id=346683 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of alleged bogus purchases for A.Ys. 2008-09 and 2009-10. The Revenue's reliance on the Sales Tax Department report was found insufficient, as evidence and supplier confirmations supported the purchases' genuineness. The proposed assessment of peak credit of purchases and additional charges were deemed baseless. The assessee provided extensive evidence of purchases through banking channels, and supplier confirmations further established the transactions' legitimacy. The Tribunal dismissed the Revenue's appeals, affirming the genuineness of purchases and rejecting the AO's additions as unsubstantiated. en-us Wed, 05 Jul 2017 00:00:00 +0530 Tue, 22 Aug 2017 07:27:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346683 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of alleged bogus purchases for A.Ys. 2008-09 and 2009-10. The Revenue's reliance on the Sales Tax Department report was found insufficient, as evidence and supplier confirmations supported the purchases' genuineness. The proposed assessment of peak credit of purchases and additional charges were deemed baseless. The assessee provided extensive evidence of purchases through banking channels, and supplier confirmations further established the transactions' legitimacy. The Tribunal dismissed the Revenue's appeals, affirming the genuineness of purchases and rejecting the AO's additions as unsubstantiated. Case-Laws Income Tax Wed, 05 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346683