https://www.taxtmi.com/caselaws?id=350439 The ITAT upheld the reopening of assessment under section 147 based on incriminating material showing the appellant's involvement in bogus purchase entries. The appellant's reliance on other case laws was deemed insufficient, as the ITAT found evidence of obtaining bogus purchase bills from non-existent parties. The ITAT cited legal precedents, including Supreme Court decisions, to support its decision and dismissed the appeal, confirming the CIT(A)'s order to disallow a portion of the purchases as unexplained income. en-us Wed, 01 Nov 2017 00:00:00 +0530 Mon, 06 Nov 2017 08:49:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350439 The ITAT upheld the reopening of assessment under section 147 based on incriminating material showing the appellant's involvement in bogus purchase entries. The appellant's reliance on other case laws was deemed insufficient, as the ITAT found evidence of obtaining bogus purchase bills from non-existent parties. The ITAT cited legal precedents, including Supreme Court decisions, to support its decision and dismissed the appeal, confirming the CIT(A)'s order to disallow a portion of the purchases as unexplained income. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350439