https://www.taxtmi.com/caselaws?id=304330 The Assessing Officer disallowed purchases made by the assessee from specific parties due to doubts on their genuineness, lack of verification, and discrepancies in addresses. The Tribunal emphasized the need for quantitative details, verification of purchases, and reconciliation with sales. The case was remanded for fresh assessment, directing the assessee to provide stock reconciliation statements and invoices. The dispute over disallowance without questioning sales led to the decision to allow the appeal for statistical purposes and conduct a detailed assessment. en-us Tue, 27 Apr 2021 00:00:00 +0530 Wed, 21 Sep 2022 07:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304330 The Assessing Officer disallowed purchases made by the assessee from specific parties due to doubts on their genuineness, lack of verification, and discrepancies in addresses. The Tribunal emphasized the need for quantitative details, verification of purchases, and reconciliation with sales. The case was remanded for fresh assessment, directing the assessee to provide stock reconciliation statements and invoices. The dispute over disallowance without questioning sales led to the decision to allow the appeal for statistical purposes and conduct a detailed assessment. Case-Laws Income Tax Tue, 27 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304330