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2012 (10) TMI 1050 - AT - Income TaxUnexplained purchases u/s 69C, disallowance on expenditure - Held that:- the expenditure was accounted in the regular books, the source is obviously explained - Hon’ble jurisdictional High Court in Radhika Creation (supra) held that the focus of section 69C is on the "source" of such expenditure and not on the authenticity of the expenditure itself - the purchases and sales are accounted for in the books of accounts. Thus, source of the expenditure incurred in purchases is obviously explained - Decided in the favor of assessee.
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