https://www.taxtmi.com/caselaws?id=469322 Section 69C could not be invoked where the alleged purchases were recorded in the books, payments were made through account payee banking channels, and the books of account were not rejected. The provision applies only when expenditure is incurred and its source remains unsatisfactorily explained; here, the dispute went to the genuineness and verifiability of the purchases, not to an unexplained source of expenditure. On those facts, the statutory precondition for section 69C was absent, and the addition was deleted in favour of the assessee. en-us Wed, 05 Mar 2025 00:00:00 +0530 Sat, 13 Jun 2026 21:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469322 Section 69C could not be invoked where the alleged purchases were recorded in the books, payments were made through account payee banking channels, and the books of account were not rejected. The provision applies only when expenditure is incurred and its source remains unsatisfactorily explained; here, the dispute went to the genuineness and verifiability of the purchases, not to an unexplained source of expenditure. On those facts, the statutory precondition for section 69C was absent, and the addition was deleted in favour of the assessee. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469322