https://www.taxtmi.com/caselaws?id=391241 The Tribunal partially allowed the assessee's appeal, reducing the disallowance to 10% of total purchases and dismissing the revenue's appeal. The Tribunal upheld the reopening of the case under section 148 of the Income Tax Act based on reasons to believe income had escaped assessment. The Tribunal also addressed the rejection of the assessee's books of accounts, reducing the disallowance to 10% of purchases. The order was pronounced on 05/12/2019. en-us Thu, 05 Dec 2019 00:00:00 +0530 Thu, 23 Jan 2020 12:07:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391241 The Tribunal partially allowed the assessee's appeal, reducing the disallowance to 10% of total purchases and dismissing the revenue's appeal. The Tribunal upheld the reopening of the case under section 148 of the Income Tax Act based on reasons to believe income had escaped assessment. The Tribunal also addressed the rejection of the assessee's books of accounts, reducing the disallowance to 10% of purchases. The order was pronounced on 05/12/2019. Case-Laws Income Tax Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391241