https://www.taxtmi.com/caselaws?id=468623 An addition for alleged ingenuine purchases was held unsustainable where the assessee produced purchase bills, transport receipts, sales bills, VAT returns, bank statements and stock records showing movement of goods and payment through banking channels. The corresponding sales were accepted, the books of account were not rejected, and there was no material fall in gross profit or net profit to suggest unexplained inflation of purchases. On that factual and evidentiary basis, the disallowance was deleted and the Revenue's challenge to the purchase addition failed. en-us Fri, 07 Feb 2025 00:00:00 +0530 Thu, 14 May 2026 19:45:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468623 An addition for alleged ingenuine purchases was held unsustainable where the assessee produced purchase bills, transport receipts, sales bills, VAT returns, bank statements and stock records showing movement of goods and payment through banking channels. The corresponding sales were accepted, the books of account were not rejected, and there was no material fall in gross profit or net profit to suggest unexplained inflation of purchases. On that factual and evidentiary basis, the disallowance was deleted and the Revenue's challenge to the purchase addition failed. Case-Laws Income Tax Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468623