https://www.taxtmi.com/caselaws?id=761403 The Delhi HC upheld ITAT's decision allowing claimed purchases despite assessee's failure to prove supplier identity and genuineness. The court found no material doubt regarding physical materials purchased from four entities being used in business activities. Stock registers weren't rejected by AO, payments were made through banking channels, and no evidence showed amounts returned to assessee as cash or accommodation entries. The controversy was fact-centric regarding whether purchases were wholly for business purposes. ITAT's findings weren't perverse. Revenue's appeal was dismissed. en-us Fri, 25 Oct 2024 00:00:00 +0530 Sat, 09 Nov 2024 08:49:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761403 The Delhi HC upheld ITAT's decision allowing claimed purchases despite assessee's failure to prove supplier identity and genuineness. The court found no material doubt regarding physical materials purchased from four entities being used in business activities. Stock registers weren't rejected by AO, payments were made through banking channels, and no evidence showed amounts returned to assessee as cash or accommodation entries. The controversy was fact-centric regarding whether purchases were wholly for business purposes. ITAT's findings weren't perverse. Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 25 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761403