https://www.taxtmi.com/caselaws?id=290542 The Allahabad High Court upheld the deletion of an addition to an assessee's income for the assessment year 2009-10, related to purchases from a Firm with cancelled registration. The Court found no evidence to support the assessing officer's claim that the purchases were bogus, emphasizing that the mere cancellation of registration does not automatically render transactions as fake. As genuine sales were accepted, it was inferred that purchases were also legitimate. The decision underscores the importance of factual evidence in assessing transactions accurately and avoiding unjust additions to income. The revenue's appeal was dismissed. en-us Wed, 18 Nov 2015 00:00:00 +0530 Sun, 04 Oct 2020 16:29:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290542 The Allahabad High Court upheld the deletion of an addition to an assessee's income for the assessment year 2009-10, related to purchases from a Firm with cancelled registration. The Court found no evidence to support the assessing officer's claim that the purchases were bogus, emphasizing that the mere cancellation of registration does not automatically render transactions as fake. As genuine sales were accepted, it was inferred that purchases were also legitimate. The decision underscores the importance of factual evidence in assessing transactions accurately and avoiding unjust additions to income. The revenue's appeal was dismissed. Case-Laws Income Tax Wed, 18 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290542