https://www.taxtmi.com/caselaws?id=778154 ITAT DELHI - AT held that the revision u/s 263 was invalid where the AO had adopted a possible view by disallowing purchases under s.37 and had conducted enquiries (physical verification, supplier statements, assessee's reply) before disallowance. The Tribunal found s.37 appropriate because nature and source of purchases were not doubted, only genuineness was, so s.69C did not apply. PCIT's challenge to AO's application of law was rejected and the assessee's appeal was allowed. en-us Tue, 26 Aug 2025 00:00:00 +0530 Thu, 11 Sep 2025 08:29:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778154 ITAT DELHI - AT held that the revision u/s 263 was invalid where the AO had adopted a possible view by disallowing purchases under s.37 and had conducted enquiries (physical verification, supplier statements, assessee's reply) before disallowance. The Tribunal found s.37 appropriate because nature and source of purchases were not doubted, only genuineness was, so s.69C did not apply. PCIT's challenge to AO's application of law was rejected and the assessee's appeal was allowed. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778154