https://www.taxtmi.com/caselaws?id=763763 Kerala HC set aside the Appellate Tribunal's order disallowing expenses claimed for paddy purchases from unregistered farmers. The court held that without proper verification of books of accounts including Stock Register, Ledger, and Cash Purchase Register, the assessing authority lacked justification to assume bogus purchases and disallow expenses under section 37(1). The HC restored the First Appellate Authority's order, ruling in favor of the assessee as the burden of proof regarding actual expenses was not properly examined through documentary verification. en-us Thu, 07 Nov 2024 00:00:00 +0530 Fri, 27 Dec 2024 09:00:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763763 Kerala HC set aside the Appellate Tribunal's order disallowing expenses claimed for paddy purchases from unregistered farmers. The court held that without proper verification of books of accounts including Stock Register, Ledger, and Cash Purchase Register, the assessing authority lacked justification to assume bogus purchases and disallow expenses under section 37(1). The HC restored the First Appellate Authority's order, ruling in favor of the assessee as the burden of proof regarding actual expenses was not properly examined through documentary verification. Case-Laws Income Tax Thu, 07 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763763