https://www.taxtmi.com/caselaws?id=353210 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) (CIT(A))'s decision to reopen the assessment for A.Y. 2010-11 under section 147 of the Income Tax Act. The ITAT affirmed the CIT(A)'s ruling on the disallowance of inflated purchases, adding 6.25% of the alleged bogus purchases due to lack of concrete evidence supporting transactions with purported parties. The ITAT dismissed the assessee's appeal, citing insufficient evidence to establish the genuineness of transactions, ultimately upholding the CIT(A)'s order. en-us Tue, 26 Dec 2017 00:00:00 +0530 Fri, 29 Dec 2017 08:56:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353210 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) (CIT(A))'s decision to reopen the assessment for A.Y. 2010-11 under section 147 of the Income Tax Act. The ITAT affirmed the CIT(A)'s ruling on the disallowance of inflated purchases, adding 6.25% of the alleged bogus purchases due to lack of concrete evidence supporting transactions with purported parties. The ITAT dismissed the assessee's appeal, citing insufficient evidence to establish the genuineness of transactions, ultimately upholding the CIT(A)'s order. Case-Laws Income Tax Tue, 26 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353210