https://www.taxtmi.com/caselaws?id=392020 The HC upheld the Tribunal's decision, affirming the deletion of the addition under Section 69C of the IT Act, 1961, made by the AO. The Tribunal found the assessee provided sufficient evidence to prove the genuineness of purchases. The AO's failure to conduct further inquiries and reliance on third-party statements without cross-examination opportunities rendered the addition unsustainable. The Court found no substantial question of law and dismissed the appeal, supporting the Tribunal's stance that mere non-appearance of suppliers does not imply bogus purchases. en-us Wed, 29 Jan 2020 00:00:00 +0530 Thu, 07 Nov 2024 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392020 The HC upheld the Tribunal's decision, affirming the deletion of the addition under Section 69C of the IT Act, 1961, made by the AO. The Tribunal found the assessee provided sufficient evidence to prove the genuineness of purchases. The AO's failure to conduct further inquiries and reliance on third-party statements without cross-examination opportunities rendered the addition unsustainable. The Court found no substantial question of law and dismissed the appeal, supporting the Tribunal's stance that mere non-appearance of suppliers does not imply bogus purchases. Case-Laws Income Tax Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392020