https://www.taxtmi.com/caselaws?id=294718 The tribunal dismissed the Revenue's appeal against the deletion of addition of unexplained expenditure under section 69C for the purchase of goods. The tribunal found that the purchases were not proven to be bogus as the Assessing Officer admitted the genuineness of the transactions, and all expenditures were accounted for. Without concrete evidence, additions under section 69C were deemed unwarranted. Legal precedents were cited to support the decision, ultimately leading to the dismissal of the Revenue's appeal due to the lack of merit based on the absence of substantial evidence supporting the addition of unexplained expenditure. en-us Wed, 16 Dec 2015 00:00:00 +0530 Thu, 29 Apr 2021 20:19:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294718 The tribunal dismissed the Revenue's appeal against the deletion of addition of unexplained expenditure under section 69C for the purchase of goods. The tribunal found that the purchases were not proven to be bogus as the Assessing Officer admitted the genuineness of the transactions, and all expenditures were accounted for. Without concrete evidence, additions under section 69C were deemed unwarranted. Legal precedents were cited to support the decision, ultimately leading to the dismissal of the Revenue's appeal due to the lack of merit based on the absence of substantial evidence supporting the addition of unexplained expenditure. Case-Laws Income Tax Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294718