https://www.taxtmi.com/caselaws?id=338470 The Assessee's appeals were partly allowed in the case. The reopening of assessments under Section 147 of the Income Tax Act was deemed valid by the Tribunal based on tangible material received from the Sales Tax department. However, the addition under Section 69C for treating purchases as bogus was not upheld. The Tribunal found insufficient evidence to conclusively prove the purchases were bogus and directed a 2% disallowance to address potential anomalies, considering the nature of the Assessee's business. en-us Fri, 30 Dec 2016 00:00:00 +0530 Sat, 04 Feb 2017 12:44:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338470 The Assessee's appeals were partly allowed in the case. The reopening of assessments under Section 147 of the Income Tax Act was deemed valid by the Tribunal based on tangible material received from the Sales Tax department. However, the addition under Section 69C for treating purchases as bogus was not upheld. The Tribunal found insufficient evidence to conclusively prove the purchases were bogus and directed a 2% disallowance to address potential anomalies, considering the nature of the Assessee's business. Case-Laws Income Tax Fri, 30 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338470