https://www.taxtmi.com/caselaws?id=14139 The court upheld the assessing authority's decision to disallow the plea put forward by the assessee, emphasizing the importance of substantiating purchases and verifying explanations. The onus was on the assessee to provide evidence, which was lacking, leading to doubts about the genuineness of transactions. The court found the Tribunal's interference unjustified and reinstated the earlier assessment order, deeming the grounds for interference weak and perfunctory. The appeal was successful for the assessing authority, with no costs awarded. en-us Thu, 22 Mar 2001 00:00:00 +0530 Tue, 14 Jul 2009 10:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14139 The court upheld the assessing authority's decision to disallow the plea put forward by the assessee, emphasizing the importance of substantiating purchases and verifying explanations. The onus was on the assessee to provide evidence, which was lacking, leading to doubts about the genuineness of transactions. The court found the Tribunal's interference unjustified and reinstated the earlier assessment order, deeming the grounds for interference weak and perfunctory. The appeal was successful for the assessing authority, with no costs awarded. Case-Laws Income Tax Thu, 22 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14139