https://www.taxtmi.com/caselaws?id=353208 The Tribunal partly allowed the appeals, directing the AO to estimate profit at 5% on alleged bogus purchases. It upheld the validity of proceedings under Section 147 and the order under Section 143(3) read with Section 147. The issue of charging interest under Sections 234A, 234B, 234C, and 234D was not extensively discussed. The judgment stressed the importance of tangible information and proper assessment in such cases. en-us Fri, 22 Dec 2017 00:00:00 +0530 Thu, 28 Dec 2017 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353208 The Tribunal partly allowed the appeals, directing the AO to estimate profit at 5% on alleged bogus purchases. It upheld the validity of proceedings under Section 147 and the order under Section 143(3) read with Section 147. The issue of charging interest under Sections 234A, 234B, 234C, and 234D was not extensively discussed. The judgment stressed the importance of tangible information and proper assessment in such cases. Case-Laws Income Tax Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353208