https://www.taxtmi.com/caselaws?id=347960 The Tribunal partially allowed the appeals in the case. It condoned the delay in filing the appeal due to a reasonable cause. The reopening of assessment under section 148 was upheld based on sufficient material indicating taxable income had escaped assessment. The Tribunal directed additions for alleged bogus purchases but reduced the disallowance percentage based on verifiable vouchers. Disallowance of expenses was reduced as the appellant maintained verifiable vouchers and made payments through banking channels, leading to the deletion of certain disallowances. en-us Fri, 28 Jul 2017 00:00:00 +0530 Thu, 14 Sep 2017 08:07:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347960 The Tribunal partially allowed the appeals in the case. It condoned the delay in filing the appeal due to a reasonable cause. The reopening of assessment under section 148 was upheld based on sufficient material indicating taxable income had escaped assessment. The Tribunal directed additions for alleged bogus purchases but reduced the disallowance percentage based on verifiable vouchers. Disallowance of expenses was reduced as the appellant maintained verifiable vouchers and made payments through banking channels, leading to the deletion of certain disallowances. Case-Laws Income Tax Fri, 28 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347960