https://www.taxtmi.com/caselaws?id=368835 The ITAT partially allowed the appeal, reducing estimated additions from 12.5% to 8% of alleged bogus purchases. The reassessment under Section 147 was deemed valid as tangible material existed for income escaping assessment. The ITAT upheld decisions on alleged bogus purchases and reassessment, dismissing legal arguments raised by the assessee. en-us Wed, 10 Oct 2018 00:00:00 +0530 Mon, 15 Oct 2018 14:15:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368835 The ITAT partially allowed the appeal, reducing estimated additions from 12.5% to 8% of alleged bogus purchases. The reassessment under Section 147 was deemed valid as tangible material existed for income escaping assessment. The ITAT upheld decisions on alleged bogus purchases and reassessment, dismissing legal arguments raised by the assessee. Case-Laws Income Tax Wed, 10 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368835