https://www.taxtmi.com/caselaws?id=777459 ITAT upheld the assessee's claim that purchases were genuine, deleting additions under section 69C after the assessee produced invoices, e-way bills and bank payments and revenue failed to prove cash withdrawals or grey-market purchases. The AO was directed to examine chargeability of interest under s.234A based on whether the return was filed within the due date after issuance of notice under s.148; s.234B consequences follow from that finding. s.234C interest is chargeable only on returned income. Penalty under s.271AAC(i) was unsustainable given the finding that s.115BBE did not apply. en-us Wed, 27 Aug 2025 00:00:00 +0530 Fri, 29 Aug 2025 08:58:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777459 ITAT upheld the assessee's claim that purchases were genuine, deleting additions under section 69C after the assessee produced invoices, e-way bills and bank payments and revenue failed to prove cash withdrawals or grey-market purchases. The AO was directed to examine chargeability of interest under s.234A based on whether the return was filed within the due date after issuance of notice under s.148; s.234B consequences follow from that finding. s.234C interest is chargeable only on returned income. Penalty under s.271AAC(i) was unsustainable given the finding that s.115BBE did not apply. Case-Laws Income Tax Wed, 27 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777459