https://www.taxtmi.com/caselaws?id=783262 ITAT set aside the disallowance of purchases under s. 37 on the ground of alleged bogus purchases. It held that, since the AO and CIT(A) had accepted the corresponding sales, the purchases could not be treated as non-genuine merely because the supplier was under liquidation. The Tribunal noted that the supplier's assets were subjected to sale by a liquidator, contradicting the finding that it was merely providing accommodation entries. Holding that CIT(A) had misappreciated the facts, ITAT deleted the addition and allowed the assessee's appeal. en-us Tue, 09 Dec 2025 00:00:00 +0530 Wed, 10 Dec 2025 17:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783262 ITAT set aside the disallowance of purchases under s. 37 on the ground of alleged bogus purchases. It held that, since the AO and CIT(A) had accepted the corresponding sales, the purchases could not be treated as non-genuine merely because the supplier was under liquidation. The Tribunal noted that the supplier's assets were subjected to sale by a liquidator, contradicting the finding that it was merely providing accommodation entries. Holding that CIT(A) had misappreciated the facts, ITAT deleted the addition and allowed the assessee's appeal. Case-Laws Income Tax Tue, 09 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783262