https://www.taxtmi.com/caselaws?id=358529 The Tribunal ruled in favor of the assessee, overturning the disallowance of Rs. 4,57,600/- for alleged bogus purchases of diamonds from M/s. Nazar Impex Pvt. Ltd. The Tribunal found that the authorities had failed to adequately investigate and unjustifiably treated the purchases as bogus, emphasizing the documentary evidence provided by the assessee. The appeal was allowed, and the purchase was deemed genuine, leading to the deletion of the disallowance. en-us Wed, 11 Apr 2018 00:00:00 +0530 Fri, 13 Apr 2018 08:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358529 The Tribunal ruled in favor of the assessee, overturning the disallowance of Rs. 4,57,600/- for alleged bogus purchases of diamonds from M/s. Nazar Impex Pvt. Ltd. The Tribunal found that the authorities had failed to adequately investigate and unjustifiably treated the purchases as bogus, emphasizing the documentary evidence provided by the assessee. The appeal was allowed, and the purchase was deemed genuine, leading to the deletion of the disallowance. Case-Laws Income Tax Wed, 11 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358529