https://www.taxtmi.com/caselaws?id=352659 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeals. The reopening of assessment under section 147 for certain years was not pressed by the assessee. The disallowance of bogus purchases was partially upheld, applying a profit rate on the purchases. Regarding the disallowance of expenses related to exempt income, the Tribunal deleted the interest disallowance and administrative expense disallowance for one year, and deleted the administrative expense disallowance for another year. The appeals were allowed accordingly. en-us Fri, 15 Dec 2017 00:00:00 +0530 Tue, 19 Dec 2017 08:50:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352659 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeals. The reopening of assessment under section 147 for certain years was not pressed by the assessee. The disallowance of bogus purchases was partially upheld, applying a profit rate on the purchases. Regarding the disallowance of expenses related to exempt income, the Tribunal deleted the interest disallowance and administrative expense disallowance for one year, and deleted the administrative expense disallowance for another year. The appeals were allowed accordingly. Case-Laws Income Tax Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352659