https://www.taxtmi.com/caselaws?id=783488 ITAT Delhi allowed the assessee's appeal and deleted the addition made u/s 69C on alleged bogus purchases and estimated profit @ 12.5%. The Tribunal held that the AO had not rejected the assessee's books of account u/s 145(3), and the purchases were duly recorded therein. Bank statements showed sufficient balances and actual payments to suppliers, establishing the source of expenditure. As the Revenue neither disproved the genuineness of the expenditure nor the funding thereof, the preconditions for invoking s.69C were not satisfied, rendering the addition unsustainable. en-us Wed, 10 Dec 2025 00:00:00 +0530 Wed, 17 Dec 2025 08:28:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783488 ITAT Delhi allowed the assessee's appeal and deleted the addition made u/s 69C on alleged bogus purchases and estimated profit @ 12.5%. The Tribunal held that the AO had not rejected the assessee's books of account u/s 145(3), and the purchases were duly recorded therein. Bank statements showed sufficient balances and actual payments to suppliers, establishing the source of expenditure. As the Revenue neither disproved the genuineness of the expenditure nor the funding thereof, the preconditions for invoking s.69C were not satisfied, rendering the addition unsustainable. Case-Laws Income Tax Wed, 10 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783488