https://www.taxtmi.com/caselaws?id=405459 The ITAT Mumbai dismissed the Revenue's appeal regarding alleged bogus purchases from M/s Hiten Enterprises, as the CIT(A) found the appellant substantiated the transactions' genuineness. The CIT(A) emphasized the importance of providing evidence to support purchase transactions and rejected the Revenue's contentions of purchases from unrecorded parties and accommodation bills. Despite the tax effect being below the CBDT monetary limit, an exception was made due to external source information, leading to the affirmation of the CIT(A)'s order. en-us Fri, 19 Mar 2021 00:00:00 +0530 Sat, 20 Mar 2021 08:47:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405459 The ITAT Mumbai dismissed the Revenue's appeal regarding alleged bogus purchases from M/s Hiten Enterprises, as the CIT(A) found the appellant substantiated the transactions' genuineness. The CIT(A) emphasized the importance of providing evidence to support purchase transactions and rejected the Revenue's contentions of purchases from unrecorded parties and accommodation bills. Despite the tax effect being below the CBDT monetary limit, an exception was made due to external source information, leading to the affirmation of the CIT(A)'s order. Case-Laws Income Tax Fri, 19 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405459