https://www.taxtmi.com/caselaws?id=275485 Alleged unexplained expenditure was deleted where the tax authority treated purchases from suspected dealers as bogus, but the tribunal held that the expenditure could not be brought to tax as unexplained on the facts and prior case law. VAT expense was also allowed because the record showed payment during the year, making the deduction admissible on a payment basis under the applicable provision. The tribunal therefore upheld the first appellate authority on both issues and rejected the tax authority's challenge. en-us Wed, 12 Apr 2017 00:00:00 +0530 Fri, 05 Oct 2018 07:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275485 Alleged unexplained expenditure was deleted where the tax authority treated purchases from suspected dealers as bogus, but the tribunal held that the expenditure could not be brought to tax as unexplained on the facts and prior case law. VAT expense was also allowed because the record showed payment during the year, making the deduction admissible on a payment basis under the applicable provision. The tribunal therefore upheld the first appellate authority on both issues and rejected the tax authority's challenge. Case-Laws Income Tax Wed, 12 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275485