https://www.taxtmi.com/caselaws?id=785222 Disallowance under analysis concerned treating purchases from five vendors as non-genuine and denying deduction under the principle that expenditure must be wholly and exclusively for business; the factual record did not establish accommodation entries or bogus transactions, and the purchases were shown to be by the operating subsidiary for ongoing projects, with subsequent acceptance of similar transactions in later years, so the part disallowance of 12.5% adopted to plug leakage lacked evidentiary basis and was deleted, resulting in dismissal of Revenues challenge to the CIT(A)s partial deletion and full restoration of the business expenditure. en-us Wed, 24 Dec 2025 00:00:00 +0530 Tue, 20 Jan 2026 06:31:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785222 Disallowance under analysis concerned treating purchases from five vendors as non-genuine and denying deduction under the principle that expenditure must be wholly and exclusively for business; the factual record did not establish accommodation entries or bogus transactions, and the purchases were shown to be by the operating subsidiary for ongoing projects, with subsequent acceptance of similar transactions in later years, so the part disallowance of 12.5% adopted to plug leakage lacked evidentiary basis and was deleted, resulting in dismissal of Revenues challenge to the CIT(A)s partial deletion and full restoration of the business expenditure. Case-Laws Income Tax Wed, 24 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785222