https://www.taxtmi.com/caselaws?id=422415 The Assessee appealed against the CIT(A)'s order for AY 2016-17, contesting the addition of Rs. 25,03,321 as bogus purchases. The Tribunal ruled in favor of the Assessee, deleting the addition. The outstanding liability of Prakash Gold from AY 2014-15 was not relevant to the impugned year, leading to its deletion. Additionally, the liability to Aarti Jewelers was deemed genuine as it was discharged through banking channels in subsequent years. The Tribunal allowed the Assessee's appeal, deleting the Rs. 25,03,321 addition based on explanations provided, with the order pronounced on 29-04-2022. en-us Fri, 29 Apr 2022 00:00:00 +0530 Sat, 14 May 2022 08:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422415 The Assessee appealed against the CIT(A)'s order for AY 2016-17, contesting the addition of Rs. 25,03,321 as bogus purchases. The Tribunal ruled in favor of the Assessee, deleting the addition. The outstanding liability of Prakash Gold from AY 2014-15 was not relevant to the impugned year, leading to its deletion. Additionally, the liability to Aarti Jewelers was deemed genuine as it was discharged through banking channels in subsequent years. The Tribunal allowed the Assessee's appeal, deleting the Rs. 25,03,321 addition based on explanations provided, with the order pronounced on 29-04-2022. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422415