No. I'm saying you can hide items from a re-download list using a computer but not hide or delete a purchase history.
Here is seeing your purchase history: See your purchase history in the iTunes Store on a Mac or PC - http://support.apple.com/HT204088
Here is seeing a re-download list: Redownload apps, music, movies, TV shows, and books from the iTunes Store, iBooks Store, and App Store - https://support.apple.com/HT201272