https://www.taxtmi.com/caselaws?id=456917 ITAT Delhi upheld the assessment order regarding unexplained purchases from two parties who were untraceable at their given addresses. The assessee failed to prove the genuineness of transactions with the parties, despite having documentary evidence. The HC had directed verification through income tax returns of the parties, but the assessee could not establish the authenticity of the transactions. The Revenue's appeal was allowed while the assessee's appeal was dismissed, confirming the addition of unexplained purchases to the assessee's income. en-us Thu, 27 Jul 2023 00:00:00 +0530 Sat, 24 Aug 2024 11:00:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456917 ITAT Delhi upheld the assessment order regarding unexplained purchases from two parties who were untraceable at their given addresses. The assessee failed to prove the genuineness of transactions with the parties, despite having documentary evidence. The HC had directed verification through income tax returns of the parties, but the assessee could not establish the authenticity of the transactions. The Revenue's appeal was allowed while the assessee's appeal was dismissed, confirming the addition of unexplained purchases to the assessee's income. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456917