https://www.taxtmi.com/caselaws?id=385013 The Tribunal partly allowed the assessee's appeal, setting aside the penalty imposed under section 271(1)(c) of the Act. The issues regarding non-genuine purchases were restored for re-adjudication, stressing the requirement for the assessee to present evidence of the authenticity of purchases in construction activity. The Tribunal found the re-opening of assessment valid due to tangible material supporting the belief of escaped income, leading to the issues being referred back to the Assessing Officer for further review. en-us Fri, 23 Aug 2019 00:00:00 +0530 Tue, 27 Aug 2019 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385013 The Tribunal partly allowed the assessee's appeal, setting aside the penalty imposed under section 271(1)(c) of the Act. The issues regarding non-genuine purchases were restored for re-adjudication, stressing the requirement for the assessee to present evidence of the authenticity of purchases in construction activity. The Tribunal found the re-opening of assessment valid due to tangible material supporting the belief of escaped income, leading to the issues being referred back to the Assessing Officer for further review. Case-Laws Income Tax Fri, 23 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385013