https://www.taxtmi.com/caselaws?id=355549 The Tribunal upheld the initiation of proceedings under Section 147 of the Income Tax Act, agreeing with the Assessing Officer's belief that income had escaped assessment. The addition of Rs. 3,14,545/- based on purchases from M/s. JPK Trading (I) Pvt. Ltd. was sustained, considering the seller's involvement in issuing bogus invoices. The Tribunal found the assessee had sufficient opportunity to rebut claims and cross-examine the seller, concluding that the appeal lacked merit. The CIT(A)'s decision was affirmed in full, and the appeal was dismissed on 9-02-2018. en-us Fri, 09 Feb 2018 00:00:00 +0530 Thu, 15 Feb 2018 09:24:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355549 The Tribunal upheld the initiation of proceedings under Section 147 of the Income Tax Act, agreeing with the Assessing Officer's belief that income had escaped assessment. The addition of Rs. 3,14,545/- based on purchases from M/s. JPK Trading (I) Pvt. Ltd. was sustained, considering the seller's involvement in issuing bogus invoices. The Tribunal found the assessee had sufficient opportunity to rebut claims and cross-examine the seller, concluding that the appeal lacked merit. The CIT(A)'s decision was affirmed in full, and the appeal was dismissed on 9-02-2018. Case-Laws Income Tax Fri, 09 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355549