https://www.taxtmi.com/caselaws?id=309209 The Tribunal upheld the Assessing Officer's decision to disallow the Assessee's claimed losses of Rs.8,55,17,103 due to lack of substantiation. The Tribunal found the losses were not adequately supported by evidence, including missing documentation and questionable transactions with associated enterprises. The Assessee's failure to prove the genuineness of the losses, coupled with familial and shareholding connections with the associated enterprise, led the Tribunal to dismiss the appeal. en-us Wed, 10 May 2023 00:00:00 +0530 Thu, 17 Aug 2023 07:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309209 The Tribunal upheld the Assessing Officer's decision to disallow the Assessee's claimed losses of Rs.8,55,17,103 due to lack of substantiation. The Tribunal found the losses were not adequately supported by evidence, including missing documentation and questionable transactions with associated enterprises. The Assessee's failure to prove the genuineness of the losses, coupled with familial and shareholding connections with the associated enterprise, led the Tribunal to dismiss the appeal. Case-Laws Income Tax Wed, 10 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309209