https://www.taxtmi.com/caselaws?id=282498 The ITAT directed the deletion of the addition of Rs. 97,960 made by the Assessing Officer concerning the rejection of the claimed loss in gram transactions, as the assessee provided evidence supporting the transactions, shifting the burden of proof to the party alleging a transaction is sham. However, the ITAT upheld small disallowances from expenses debited to the Profit & Loss account due to insufficient evidence. The appeal was partially allowed, with the substantial addition deleted but the small disallowances sustained. en-us Fri, 16 Dec 2005 00:00:00 +0530 Fri, 09 Aug 2019 17:59:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282498 The ITAT directed the deletion of the addition of Rs. 97,960 made by the Assessing Officer concerning the rejection of the claimed loss in gram transactions, as the assessee provided evidence supporting the transactions, shifting the burden of proof to the party alleging a transaction is sham. However, the ITAT upheld small disallowances from expenses debited to the Profit & Loss account due to insufficient evidence. The appeal was partially allowed, with the substantial addition deleted but the small disallowances sustained. Case-Laws Income Tax Fri, 16 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282498