https://www.taxtmi.com/caselaws?id=347767 The ITAT upheld the re-opening of assessments under section 147 r.w.s. 148 of the Income Tax Act, 1961, based on information from the Sales Tax Department regarding hawala entries. Addition on account of bogus purchases was confirmed, with a GP rate of 12.5% sustained. Disallowance of expenses was upheld due to lack of supporting documentation. The ITAT also confirmed additions for subsequent assessment years following similar patterns. Cross-appeals by the revenue were dismissed after the ITAT allowed the assessee's appeals. Verification of income from other sources was directed, ensuring a fair and reasoned outcome based on legal provisions. en-us Wed, 23 Aug 2017 00:00:00 +0530 Mon, 11 Sep 2017 08:35:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347767 The ITAT upheld the re-opening of assessments under section 147 r.w.s. 148 of the Income Tax Act, 1961, based on information from the Sales Tax Department regarding hawala entries. Addition on account of bogus purchases was confirmed, with a GP rate of 12.5% sustained. Disallowance of expenses was upheld due to lack of supporting documentation. The ITAT also confirmed additions for subsequent assessment years following similar patterns. Cross-appeals by the revenue were dismissed after the ITAT allowed the assessee's appeals. Verification of income from other sources was directed, ensuring a fair and reasoned outcome based on legal provisions. Case-Laws Income Tax Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347767