https://www.taxtmi.com/caselaws?id=347548 The Tribunal partly allowed the appeal, reducing the addition to the income of the assessee to 12.5% of alleged bogus purchases, down from the initial 24.71%. The challenge to the legality of reopening the assessment was dismissed. The Tribunal instructed the Assessing Officer to adjust the additions accordingly. Penalty proceedings under section 271(1)(c) were not addressed specifically in the Tribunal's order. en-us Tue, 29 Aug 2017 00:00:00 +0530 Mon, 08 Aug 2022 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347548 The Tribunal partly allowed the appeal, reducing the addition to the income of the assessee to 12.5% of alleged bogus purchases, down from the initial 24.71%. The challenge to the legality of reopening the assessment was dismissed. The Tribunal instructed the Assessing Officer to adjust the additions accordingly. Penalty proceedings under section 271(1)(c) were not addressed specifically in the Tribunal's order. Case-Laws Income Tax Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347548