https://www.taxtmi.com/caselaws?id=306507 The Appellate Tribunal ITAT Ahmedabad deleted the addition made by the Assessing Officer concerning alleged non-genuine purchases of color and chemicals by the Assessee Company. The Tribunal emphasized the need for concrete evidence and ruled in favor of the Assessee, highlighting that additions based solely on a third party's statement, in this case, Rohit Panwala, were unjustified. The appeal was allowed, underscoring the Tribunal's consistent stance against unsupported additions. en-us Fri, 28 Aug 2009 00:00:00 +0530 Sat, 04 Feb 2023 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306507 The Appellate Tribunal ITAT Ahmedabad deleted the addition made by the Assessing Officer concerning alleged non-genuine purchases of color and chemicals by the Assessee Company. The Tribunal emphasized the need for concrete evidence and ruled in favor of the Assessee, highlighting that additions based solely on a third party's statement, in this case, Rohit Panwala, were unjustified. The appeal was allowed, underscoring the Tribunal's consistent stance against unsupported additions. Case-Laws Income Tax Fri, 28 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306507