https://www.taxtmi.com/caselaws?id=195327 The Tribunal dismissed the revenue's appeal and directed the AO to delete the addition related to alleged bogus purchases. The reopening of assessment was deemed unnecessary as the genuineness of transactions was established by the assessee, leading to the reduction of the addition from 9% to 3% by the CIT(A) being upheld. The Tribunal found the AO's observations vague and accepted the suppliers' confirmations as valid, ultimately ruling in favor of the assessee and requiring the deletion of the addition. en-us Wed, 16 Aug 2017 00:00:00 +0530 Thu, 26 Oct 2017 08:33:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195327 The Tribunal dismissed the revenue's appeal and directed the AO to delete the addition related to alleged bogus purchases. The reopening of assessment was deemed unnecessary as the genuineness of transactions was established by the assessee, leading to the reduction of the addition from 9% to 3% by the CIT(A) being upheld. The Tribunal found the AO's observations vague and accepted the suppliers' confirmations as valid, ultimately ruling in favor of the assessee and requiring the deletion of the addition. Case-Laws Income Tax Wed, 16 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195327