https://www.taxtmi.com/caselaws?id=351353 The ITAT partly allowed the appeal, reducing the disallowance of bogus purchases from 100% to 12.5%. The reopening of assessment was upheld based on incriminating material linking the assessee to bogus purchases. The courts dismissed claims of lack of opportunity, emphasizing that the assessee failed to cooperate and provide evidence despite multiple chances. The decision was in line with precedents and principles of natural justice, affirming the validity of the reopening and the quantum of disallowance. en-us Thu, 06 Jul 2017 00:00:00 +0530 Fri, 24 Nov 2017 06:23:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351353 The ITAT partly allowed the appeal, reducing the disallowance of bogus purchases from 100% to 12.5%. The reopening of assessment was upheld based on incriminating material linking the assessee to bogus purchases. The courts dismissed claims of lack of opportunity, emphasizing that the assessee failed to cooperate and provide evidence despite multiple chances. The decision was in line with precedents and principles of natural justice, affirming the validity of the reopening and the quantum of disallowance. Case-Laws Income Tax Thu, 06 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351353