https://www.taxtmi.com/caselaws?id=350749 The Tribunal remanded the case back to the Assessing Officer for a fresh determination, directing the assessee to substantiate material purchases and reconcile them with sales. The Tribunal emphasized the necessity of proving the genuineness of transactions and providing evidence of purchases and sales. The appeals for both assessment years were allowed for statistical purposes, with instructions for the AO to re-evaluate the issues in compliance with the law. en-us Tue, 26 Sep 2017 00:00:00 +0530 Sat, 11 Nov 2017 10:55:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350749 The Tribunal remanded the case back to the Assessing Officer for a fresh determination, directing the assessee to substantiate material purchases and reconcile them with sales. The Tribunal emphasized the necessity of proving the genuineness of transactions and providing evidence of purchases and sales. The appeals for both assessment years were allowed for statistical purposes, with instructions for the AO to re-evaluate the issues in compliance with the law. Case-Laws Income Tax Tue, 26 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350749