https://www.taxtmi.com/caselaws?id=771955 Alleged bogus purchase additions were not found to be wholly unproved where the assessee produced invoices, bank statements, stock records, MCA records and other supporting documents. The Tribunal held that mere non-production of suppliers for cross-examination and a third-party affidavit retraction did not, by themselves, establish that the purchases were non-genuine, especially as the Assessing Officer brought no cogent material to disprove the documentary evidence. The Revenue's reliance on a jurisdictional High Court ruling was distinguished on facts. The first appellate authority's restriction of the addition to 4% was sustained. en-us Fri, 30 May 2025 00:00:00 +0530 Mon, 02 Jun 2025 08:34:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771955 Alleged bogus purchase additions were not found to be wholly unproved where the assessee produced invoices, bank statements, stock records, MCA records and other supporting documents. The Tribunal held that mere non-production of suppliers for cross-examination and a third-party affidavit retraction did not, by themselves, establish that the purchases were non-genuine, especially as the Assessing Officer brought no cogent material to disprove the documentary evidence. The Revenue's reliance on a jurisdictional High Court ruling was distinguished on facts. The first appellate authority's restriction of the addition to 4% was sustained. Case-Laws Income Tax Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771955