https://www.taxtmi.com/caselaws?id=427940 The High Court modified the ITAT's direction from 'shall' to 'may' regarding the appellant's obligation to produce purchase parties from the financial year 2012-13 for verification. The Court clarified that this change did not relieve the appellant from proving the authenticity of purchases but aimed to prevent adverse inferences due to the difficulty in locating the parties. Emphasizing the need for independent evidence, the Court directed the AO to consider all documents provided by the appellant without drawing negative conclusions. The Court partially allowed the appeal, leaving the determination of the purchases' genuineness to the AO based on the evidence presented. en-us Wed, 07 Sep 2022 00:00:00 +0530 Mon, 19 Sep 2022 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427940 The High Court modified the ITAT's direction from 'shall' to 'may' regarding the appellant's obligation to produce purchase parties from the financial year 2012-13 for verification. The Court clarified that this change did not relieve the appellant from proving the authenticity of purchases but aimed to prevent adverse inferences due to the difficulty in locating the parties. Emphasizing the need for independent evidence, the Court directed the AO to consider all documents provided by the appellant without drawing negative conclusions. The Court partially allowed the appeal, leaving the determination of the purchases' genuineness to the AO based on the evidence presented. Case-Laws Income Tax Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427940