https://www.taxtmi.com/caselaws?id=756570 ITAT Mumbai dismissed Revenue's appeal challenging deletion of bogus purchase addition. The assessee purchased from M/s. Kasturi Commodities Pvt. Ltd and provided sufficient documents proving financial creditworthiness, which Revenue did not dispute. Revenue relied solely on Investigation Wing information without producing material evidence to disprove transaction genuineness. The continuing business relationship from previous year supported transaction authenticity. CIT(A)'s order deleting AO's addition was upheld, confirming no infirmity in the decision. en-us Mon, 06 May 2024 00:00:00 +0530 Tue, 06 Aug 2024 07:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756570 ITAT Mumbai dismissed Revenue's appeal challenging deletion of bogus purchase addition. The assessee purchased from M/s. Kasturi Commodities Pvt. Ltd and provided sufficient documents proving financial creditworthiness, which Revenue did not dispute. Revenue relied solely on Investigation Wing information without producing material evidence to disprove transaction genuineness. The continuing business relationship from previous year supported transaction authenticity. CIT(A)'s order deleting AO's addition was upheld, confirming no infirmity in the decision. Case-Laws Income Tax Mon, 06 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756570