https://www.taxtmi.com/caselaws?id=374487 The Tribunal allowed the assessee's appeal against the penalty imposed for disallowance of commission/brokerage on purchases. The disallowance was based on the inability to prove the genuineness of payments as parties could not be produced for deposition. However, the assessee had provided confirmations, tax returns, and bank statements, meeting the initial burden of proof. Lack of appearance did not render the evidence false, and in the absence of incriminating evidence, the penalty for furnishing inaccurate income particulars was deemed unwarranted and deleted. The importance of supporting claims with documentation was emphasized. en-us Thu, 31 Jan 2019 00:00:00 +0530 Sat, 02 Feb 2019 09:28:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374487 The Tribunal allowed the assessee's appeal against the penalty imposed for disallowance of commission/brokerage on purchases. The disallowance was based on the inability to prove the genuineness of payments as parties could not be produced for deposition. However, the assessee had provided confirmations, tax returns, and bank statements, meeting the initial burden of proof. Lack of appearance did not render the evidence false, and in the absence of incriminating evidence, the penalty for furnishing inaccurate income particulars was deemed unwarranted and deleted. The importance of supporting claims with documentation was emphasized. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374487