https://www.taxtmi.com/caselaws?id=780433 ITAT held the assessing officer's disallowance of alleged bogus purchases unsustainable. The assessee produced books, bank statements, P&L, balance sheet and tax audit report, showed no recorded purchase expenses from the noticed parties, and the AO did not satisfactorily rebut those records or complete third-party enquiries. Section 69A was found inapplicable. As the addition was effectively a disallowance of expense under s.37 without supporting evidence, the assessment additions were set aside and the revenue's appeal was dismissed. en-us Mon, 27 Oct 2025 00:00:00 +0530 Thu, 30 Oct 2025 08:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780433 ITAT held the assessing officer's disallowance of alleged bogus purchases unsustainable. The assessee produced books, bank statements, P&L, balance sheet and tax audit report, showed no recorded purchase expenses from the noticed parties, and the AO did not satisfactorily rebut those records or complete third-party enquiries. Section 69A was found inapplicable. As the addition was effectively a disallowance of expense under s.37 without supporting evidence, the assessment additions were set aside and the revenue's appeal was dismissed. Case-Laws Income Tax Mon, 27 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780433