https://www.taxtmi.com/caselaws?id=55806 The Tribunal dismissed the Department's appeal in a case involving income assessment for a chemical firm. The firm's addition of income based on alleged purchases from a non-existent supplier was contested. Despite concerns raised by the Assessing Officer, the Appellate Authority accepted the firm's appeal, noting the lack of evidence supporting the additions. The Tribunal emphasized procedural defects and the lack of conclusive proof against the firm, ultimately ruling in favor of the firm and dismissing the Department's appeal, highlighting the firm's credible stock register entries and the absence of funds returning to the firm. en-us Sun, 25 Jul 1976 00:00:00 +0530 Tue, 30 Nov 2010 12:25:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55806 The Tribunal dismissed the Department's appeal in a case involving income assessment for a chemical firm. The firm's addition of income based on alleged purchases from a non-existent supplier was contested. Despite concerns raised by the Assessing Officer, the Appellate Authority accepted the firm's appeal, noting the lack of evidence supporting the additions. The Tribunal emphasized procedural defects and the lack of conclusive proof against the firm, ultimately ruling in favor of the firm and dismissing the Department's appeal, highlighting the firm's credible stock register entries and the absence of funds returning to the firm. Case-Laws Income Tax Sun, 25 Jul 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55806