https://www.taxtmi.com/caselaws?id=197456 The tribunal allowed the assessee's appeals in part, directing a reasonable disallowance of 12.5% of aggregate purchases as unexplained expenditure. The judgment emphasized the necessity of concrete evidence to support expenditure claims and the significance of considering all available information, including retractions and statements made during surveys. The decision reflected a balanced approach in addressing the issues raised by the assessee, highlighting the importance of thorough evaluation and substantiation of transactions to avoid disallowances. en-us Tue, 08 Aug 2017 00:00:00 +0530 Mon, 08 Jan 2018 09:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197456 The tribunal allowed the assessee's appeals in part, directing a reasonable disallowance of 12.5% of aggregate purchases as unexplained expenditure. The judgment emphasized the necessity of concrete evidence to support expenditure claims and the significance of considering all available information, including retractions and statements made during surveys. The decision reflected a balanced approach in addressing the issues raised by the assessee, highlighting the importance of thorough evaluation and substantiation of transactions to avoid disallowances. Case-Laws Income Tax Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197456