https://www.taxtmi.com/caselaws?id=375841 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete an addition of Rs. 9,99,50,211/- under Section 69C of the Income Tax Act, considering certain purchases as unexplained expenditure. The ITAT found that the assessee provided adequate evidence, including confirmations, ledger accounts, and bank statements, to prove the genuineness of the transactions. The ITAT highlighted that payments were made through banking channels with no discrepancies, leading to the dismissal of the Revenue's appeal. en-us Wed, 20 Feb 2019 00:00:00 +0530 Tue, 26 Feb 2019 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375841 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete an addition of Rs. 9,99,50,211/- under Section 69C of the Income Tax Act, considering certain purchases as unexplained expenditure. The ITAT found that the assessee provided adequate evidence, including confirmations, ledger accounts, and bank statements, to prove the genuineness of the transactions. The ITAT highlighted that payments were made through banking channels with no discrepancies, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375841