https://www.taxtmi.com/caselaws?id=388459 The Appellate Tribunal ITAT Mumbai overturned the Commissioner of Income-Tax (Appeals)'s decision to delete disallowances made by the Assessing Officer for Assessment Year 2008-09. The Tribunal emphasized the significance of incriminating material found during search proceedings, indicating tax evasion through bogus bills. As the assessee failed to substantiate transaction genuineness, the Tribunal directed re-adjudication by the Commissioner of Income-Tax (Appeals) based on the Assessing Officer's investigation. The appeal was allowed for statistical purposes, favoring the revenue and highlighting the importance of seized material in tax assessments. en-us Wed, 13 Nov 2019 00:00:00 +0530 Fri, 15 Nov 2019 16:11:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388459 The Appellate Tribunal ITAT Mumbai overturned the Commissioner of Income-Tax (Appeals)'s decision to delete disallowances made by the Assessing Officer for Assessment Year 2008-09. The Tribunal emphasized the significance of incriminating material found during search proceedings, indicating tax evasion through bogus bills. As the assessee failed to substantiate transaction genuineness, the Tribunal directed re-adjudication by the Commissioner of Income-Tax (Appeals) based on the Assessing Officer's investigation. The appeal was allowed for statistical purposes, favoring the revenue and highlighting the importance of seized material in tax assessments. Case-Laws Income Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388459