If Assessee Denies Transaction, onus shifts to AO to prove allegation with positive evidence

Saksham Industries Vs ITO (ITAT Pune)

AO made addition u/sec.40A(3) alleging that assessee had made cash purchases in a day of Rs.3,36,551/- from M/s.M M Pvt. Ltd. Assessee contended that they have  not made any purchases during the year from M/s.M M Pvt. Ltd.   Assessee had asked AO to provide copy of the information received by AO,

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