https://www.taxtmi.com/caselaws?id=351262 The Tribunal partly allowed the Revenue's appeal, directing the AO to compute the addition at 12.5% of the total bogus purchases. The assessee's cross-objection challenging the reopening of the assessment was dismissed, as the Tribunal found the AO's action justified and in line with the Supreme Court's rulings. The Tribunal also condoned the delay in filing the cross-objection due to the Director's personal circumstances, emphasizing a justice-oriented approach. en-us Mon, 23 Oct 2017 00:00:00 +0530 Wed, 22 Nov 2017 08:25:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351262 The Tribunal partly allowed the Revenue's appeal, directing the AO to compute the addition at 12.5% of the total bogus purchases. The assessee's cross-objection challenging the reopening of the assessment was dismissed, as the Tribunal found the AO's action justified and in line with the Supreme Court's rulings. The Tribunal also condoned the delay in filing the cross-objection due to the Director's personal circumstances, emphasizing a justice-oriented approach. Case-Laws Income Tax Mon, 23 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351262