https://www.taxtmi.com/caselaws?id=764515 The HC upheld the Income-tax Appellate Tribunal's decision to sustain the addition of Rs.25,88,026/- as unproved cash purchases. The court found no substantial question of law, as the Tribunal's findings were based on the lack of evidence provided by the assessee, such as the absence of a stock register for the relevant year. The court emphasized that it could not interfere with factual findings unless they were perverse, siding with the Revenue and dismissing the appeal. The burden of proof was determined to lie with the assessee to substantiate claims of purchases. en-us Mon, 06 Jan 2025 00:00:00 +0530 Fri, 10 Jan 2025 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764515 The HC upheld the Income-tax Appellate Tribunal's decision to sustain the addition of Rs.25,88,026/- as unproved cash purchases. The court found no substantial question of law, as the Tribunal's findings were based on the lack of evidence provided by the assessee, such as the absence of a stock register for the relevant year. The court emphasized that it could not interfere with factual findings unless they were perverse, siding with the Revenue and dismissing the appeal. The burden of proof was determined to lie with the assessee to substantiate claims of purchases. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764515