https://www.taxtmi.com/caselaws?id=361402 The Tribunal allowed the assessee's appeals in part, restricting the disallowance of 12.5% of the bogus purchases made by the assessee. The Tribunal found that the reopening of the assessment was justified based on solid information from the Sales Tax Department regarding companies issuing bogus bills. Despite the materials purchased being used in manufacturing, the assessee's failure to produce suppliers indicated purchases from the gray market. The order was pronounced on 30th May 2018, with similar restrictions on additions for the subsequent assessment years 2010-11 to 2012-13. en-us Wed, 30 May 2018 00:00:00 +0530 Tue, 05 Jun 2018 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361402 The Tribunal allowed the assessee's appeals in part, restricting the disallowance of 12.5% of the bogus purchases made by the assessee. The Tribunal found that the reopening of the assessment was justified based on solid information from the Sales Tax Department regarding companies issuing bogus bills. Despite the materials purchased being used in manufacturing, the assessee's failure to produce suppliers indicated purchases from the gray market. The order was pronounced on 30th May 2018, with similar restrictions on additions for the subsequent assessment years 2010-11 to 2012-13. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361402