https://www.taxtmi.com/caselaws?id=358203 The Tribunal partly allowed both appeals of the assessee, upholding the reassessment proceedings initiated under section 147 of the Income-tax Act, 1961, based on information from the Sales Tax Department regarding bogus bills. The Tribunal dismissed the ground of appeal against the reassessment proceedings. Additionally, the Tribunal upheld the non-service of notice under sections 142(1) and 143(2) of the Act, confirming that notices were duly dispatched. Regarding the merits of addition on account of bogus purchases, the Tribunal allowed a 10% GP rate over and above the declared GP in the books of account. en-us Fri, 23 Mar 2018 00:00:00 +0530 Sat, 07 Apr 2018 07:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358203 The Tribunal partly allowed both appeals of the assessee, upholding the reassessment proceedings initiated under section 147 of the Income-tax Act, 1961, based on information from the Sales Tax Department regarding bogus bills. The Tribunal dismissed the ground of appeal against the reassessment proceedings. Additionally, the Tribunal upheld the non-service of notice under sections 142(1) and 143(2) of the Act, confirming that notices were duly dispatched. Regarding the merits of addition on account of bogus purchases, the Tribunal allowed a 10% GP rate over and above the declared GP in the books of account. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358203