The Assessing Officer made an addition to the income on account of a transaction with an entity  as bogus and  also made disallowances of donation expenses and certain other expenses and hedging loss. The Commissioner (Appeals) deleted the additions made on account of the transaction with ST and the disallowances of hedging and part of the donation and other expenses. The Tribunal held that the transaction recorded in the books of account in the regular course of business was to be accepted as true and correct unless there was a strong evidence to rebut it. On appeal High Court affirmed the order of the Tribunal.  (AY.2012-13)