https://www.taxtmi.com/caselaws?id=348585 The Tribunal upheld the validity of the reopening of assessment and additions sustained by the Ld CIT(A). Disallowances made under section 40(a)(ia) were partially deleted and certain payments were restored for fresh examination. The Tribunal directed the AO to delete the disallowance of purchases and purchases made from a specific entity, considering them as accounting errors. Unexplained purchases were also deleted based on correct accounting treatment. Additionally, the Tribunal ruled in favor of the assessee regarding the addition related to unaccounted sales of flats, directing the AO to delete the said addition. en-us Thu, 31 Aug 2017 00:00:00 +0530 Mon, 25 Sep 2017 07:20:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348585 The Tribunal upheld the validity of the reopening of assessment and additions sustained by the Ld CIT(A). Disallowances made under section 40(a)(ia) were partially deleted and certain payments were restored for fresh examination. The Tribunal directed the AO to delete the disallowance of purchases and purchases made from a specific entity, considering them as accounting errors. Unexplained purchases were also deleted based on correct accounting treatment. Additionally, the Tribunal ruled in favor of the assessee regarding the addition related to unaccounted sales of flats, directing the AO to delete the said addition. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348585