https://www.taxtmi.com/caselaws?id=279567 The Tribunal quashed the reopening of the assessment and deleted the addition of 20% of the purchases, ruling in favor of the assessee. It held that the purchases were genuine, the rejection of books was unwarranted, and the 20% profit addition lacked justification. The Tribunal stressed the need for cross-examination and deemed the application of Section 40A(3) improper. en-us Wed, 28 Oct 2015 00:00:00 +0530 Tue, 26 Mar 2019 06:24:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279567 The Tribunal quashed the reopening of the assessment and deleted the addition of 20% of the purchases, ruling in favor of the assessee. It held that the purchases were genuine, the rejection of books was unwarranted, and the 20% profit addition lacked justification. The Tribunal stressed the need for cross-examination and deemed the application of Section 40A(3) improper. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279567