https://www.taxtmi.com/caselaws?id=298073 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision in favor of the assessee. The CIT(A) deleted the addition of unexplained expenditure under section 69C of the Income-tax Act, emphasizing that the assessee provided valid explanations with evidence, including bank statements and invoices. The Tribunal relied on legal precedents where similar additions were deleted due to insufficient evidence, supporting the genuineness of purchases made by the assessee. The importance of documentary proof and stock reconciliation statements was highlighted in the decision. en-us Fri, 07 Oct 2016 00:00:00 +0530 Tue, 01 Nov 2022 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298073 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision in favor of the assessee. The CIT(A) deleted the addition of unexplained expenditure under section 69C of the Income-tax Act, emphasizing that the assessee provided valid explanations with evidence, including bank statements and invoices. The Tribunal relied on legal precedents where similar additions were deleted due to insufficient evidence, supporting the genuineness of purchases made by the assessee. The importance of documentary proof and stock reconciliation statements was highlighted in the decision. Case-Laws Income Tax Fri, 07 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298073