https://www.taxtmi.com/caselaws?id=397971 The Tribunal dismissed both appeals filed by the revenue, affirming the CIT(A)'s deletion of the addition made on account of bogus purchases. The Tribunal found the assessee's transactions genuine and supported by substantial evidence, emphasizing the lack of concrete evidence from the AO to substantiate claims of bogus purchases. The decision was based on judicial precedents supporting the assessee's case, highlighting the importance of banking channels and stock records in proving transactions' genuineness. en-us Mon, 31 Aug 2020 00:00:00 +0530 Thu, 03 Sep 2020 09:59:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397971 The Tribunal dismissed both appeals filed by the revenue, affirming the CIT(A)'s deletion of the addition made on account of bogus purchases. The Tribunal found the assessee's transactions genuine and supported by substantial evidence, emphasizing the lack of concrete evidence from the AO to substantiate claims of bogus purchases. The decision was based on judicial precedents supporting the assessee's case, highlighting the importance of banking channels and stock records in proving transactions' genuineness. Case-Laws Income Tax Mon, 31 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397971