https://www.taxtmi.com/caselaws?id=352478 The Tribunal upheld the validity of the reassessment proceedings initiated by the Assessing Officer based on tangible material received from external agencies. The additions on account of bogus purchases were restricted to 25% of the total purchases, with the excess amount being deleted. The enhancement of commission paid was upheld, but the additional gross profit enhancement was deleted. The appeal was partly allowed, with the general grounds raised by the assessee dismissed. en-us Wed, 13 Dec 2017 00:00:00 +0530 Fri, 15 Dec 2017 08:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352478 The Tribunal upheld the validity of the reassessment proceedings initiated by the Assessing Officer based on tangible material received from external agencies. The additions on account of bogus purchases were restricted to 25% of the total purchases, with the excess amount being deleted. The enhancement of commission paid was upheld, but the additional gross profit enhancement was deleted. The appeal was partly allowed, with the general grounds raised by the assessee dismissed. Case-Laws Income Tax Wed, 13 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352478