https://www.taxtmi.com/caselaws?id=395475 The ITAT upheld the decisions of the A.O. and ld. CIT(A) in adding 12.5% profit on alleged non-genuine purchases for A.Y. 2009-10 under the Income Tax Act, 1961. The judgment stressed the necessity of concrete evidence, the burden of proof on the appellant, and the relevance of VAT investigation in verifying transaction legitimacy. The appellant's failure to provide essential evidence resulted in the dismissal of the appeal, affirming the authorities' actions in the assessment. en-us Tue, 03 Mar 2020 00:00:00 +0530 Sat, 23 May 2020 10:39:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395475 The ITAT upheld the decisions of the A.O. and ld. CIT(A) in adding 12.5% profit on alleged non-genuine purchases for A.Y. 2009-10 under the Income Tax Act, 1961. The judgment stressed the necessity of concrete evidence, the burden of proof on the appellant, and the relevance of VAT investigation in verifying transaction legitimacy. The appellant's failure to provide essential evidence resulted in the dismissal of the appeal, affirming the authorities' actions in the assessment. Case-Laws Income Tax Tue, 03 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395475