https://www.taxtmi.com/caselaws?id=771671 ITAT Cochin remanded the matter to AO for fresh adjudication regarding addition under section 69C for alleged bogus purchases. The tribunal found that lower authorities failed to dispute the source of expenditure but only questioned transaction genuineness without proper examination. Since normal genuineness yardsticks were inapplicable and case-specific facts weren't properly examined, the matter was restored to AO with directions to seek additional information including market transaction details and commodity exchange records. Appeal allowed for statistical purposes. en-us Fri, 28 Mar 2025 00:00:00 +0530 Thu, 29 May 2025 08:41:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771671 ITAT Cochin remanded the matter to AO for fresh adjudication regarding addition under section 69C for alleged bogus purchases. The tribunal found that lower authorities failed to dispute the source of expenditure but only questioned transaction genuineness without proper examination. Since normal genuineness yardsticks were inapplicable and case-specific facts weren't properly examined, the matter was restored to AO with directions to seek additional information including market transaction details and commodity exchange records. Appeal allowed for statistical purposes. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771671