https://www.taxtmi.com/caselaws?id=394581 The Tribunal upheld the addition of 12.5% of alleged bogus purchases in the assessee's income for A.Y. 2009-10, following the Gujarat High Court decision in the case of Simit P Sheth. The CIT(A)'s confirmation was based on strong evidence from the Sales tax authorities showing hawala bill issuance without actual goods supply. The appellant's failure to provide essential evidence led to the dismissal of the appeal, emphasizing the burden of proof on the assessee to establish transaction genuineness. The decision highlights the importance of substantiating transactions with evidence to avoid tax implications. en-us Mon, 02 Mar 2020 00:00:00 +0530 Fri, 17 Apr 2020 15:07:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394581 The Tribunal upheld the addition of 12.5% of alleged bogus purchases in the assessee's income for A.Y. 2009-10, following the Gujarat High Court decision in the case of Simit P Sheth. The CIT(A)'s confirmation was based on strong evidence from the Sales tax authorities showing hawala bill issuance without actual goods supply. The appellant's failure to provide essential evidence led to the dismissal of the appeal, emphasizing the burden of proof on the assessee to establish transaction genuineness. The decision highlights the importance of substantiating transactions with evidence to avoid tax implications. Case-Laws Income Tax Mon, 02 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394581