https://www.taxtmi.com/caselaws?id=389430 The ITAT allowed all appeals, emphasizing the need for a fair and evidence-based assessment by tax authorities. The case involved the disallowance of purchases due to suspicions of bogus transactions and the disallowance of expenses related to tax-free income under section 14A of the Income Tax Act. The ITAT found that the decisions made by the lower authorities were based on presumptions rather than concrete evidence, leading to unjust conclusions. The case was remitted back to the lower authority for a fresh decision considering all evidence presented by the assessee. en-us Fri, 29 Nov 2019 00:00:00 +0530 Sat, 07 Dec 2019 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389430 The ITAT allowed all appeals, emphasizing the need for a fair and evidence-based assessment by tax authorities. The case involved the disallowance of purchases due to suspicions of bogus transactions and the disallowance of expenses related to tax-free income under section 14A of the Income Tax Act. The ITAT found that the decisions made by the lower authorities were based on presumptions rather than concrete evidence, leading to unjust conclusions. The case was remitted back to the lower authority for a fresh decision considering all evidence presented by the assessee. Case-Laws Income Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389430