https://www.taxtmi.com/caselaws?id=215375 The Tribunal upheld the deletion of an addition of Rs. 36,39,710/- on account of suppression of profit from bogus purchases, as the assessee provided evidence supporting the transactions. Additionally, the Tribunal confirmed the addition of Rs. 28,20,240/- surrendered during a survey, rejecting the assessee's attempt to retract the surrender. The Tribunal also deemed the assessment proceedings valid despite the absence of a notice under section 143(2) for the revised return. Both the departmental appeal and the assessee's cross-objection were dismissed, affirming the deletion and addition amounts while validating the assessment proceedings. en-us Thu, 31 May 2012 00:00:00 +0530 Thu, 26 Jul 2012 08:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215375 The Tribunal upheld the deletion of an addition of Rs. 36,39,710/- on account of suppression of profit from bogus purchases, as the assessee provided evidence supporting the transactions. Additionally, the Tribunal confirmed the addition of Rs. 28,20,240/- surrendered during a survey, rejecting the assessee's attempt to retract the surrender. The Tribunal also deemed the assessment proceedings valid despite the absence of a notice under section 143(2) for the revised return. Both the departmental appeal and the assessee's cross-objection were dismissed, affirming the deletion and addition amounts while validating the assessment proceedings. Case-Laws Income Tax Thu, 31 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215375