https://www.taxtmi.com/caselaws?id=68647 The tribunal partly allowed the appeal by deleting the addition of Rs. 2,20,000 related to unproved purchases, as it found insufficient evidence connecting the assessee to the alleged bogus transactions. The tribunal criticized the reliance on affidavits without cross-examination and noted discrepancies in transaction details. However, the tribunal dismissed the challenge to the reassessment proceedings under sections 147/148, finding the reasons for reopening the assessment valid. Disallowances of shop and telephone expenses were also dismissed without extensive argument. en-us Fri, 22 Dec 2006 00:00:00 +0530 Thu, 08 Feb 2024 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68647 The tribunal partly allowed the appeal by deleting the addition of Rs. 2,20,000 related to unproved purchases, as it found insufficient evidence connecting the assessee to the alleged bogus transactions. The tribunal criticized the reliance on affidavits without cross-examination and noted discrepancies in transaction details. However, the tribunal dismissed the challenge to the reassessment proceedings under sections 147/148, finding the reasons for reopening the assessment valid. Disallowances of shop and telephone expenses were also dismissed without extensive argument. Case-Laws Income Tax Fri, 22 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68647