https://www.taxtmi.com/caselaws?id=277771 The Tribunal partially allowed the assessee's appeal, contesting additions under various sections including 69C, 37, 68, and 41. The Tribunal found the assessee failed to prove the legitimacy of purchases from suspicious parties and unexplained cash credits despite banking transactions. Disallowance of 50% of purchases as bogus was upheld due to lack of supplier confirmations. The unexplained cash credit was remitted back to the AO for further substantiation. The addition under section 41 was partly sustained, with the matter remitted back for clarification. The stay application was dismissed, and the appeal was partially allowed for statistical purposes. en-us Wed, 07 Mar 2018 00:00:00 +0530 Sat, 22 Dec 2018 06:04:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277771 The Tribunal partially allowed the assessee's appeal, contesting additions under various sections including 69C, 37, 68, and 41. The Tribunal found the assessee failed to prove the legitimacy of purchases from suspicious parties and unexplained cash credits despite banking transactions. Disallowance of 50% of purchases as bogus was upheld due to lack of supplier confirmations. The unexplained cash credit was remitted back to the AO for further substantiation. The addition under section 41 was partly sustained, with the matter remitted back for clarification. The stay application was dismissed, and the appeal was partially allowed for statistical purposes. Case-Laws Income Tax Wed, 07 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277771