https://www.taxtmi.com/caselaws?id=392333 The Tribunal upheld the validity of reassessment proceedings initiated under Section 147 and directed the AO to restrict additions to the GP rate on disputed purchases. The appeals by the Revenue and cross-objections by the assessee were partly allowed for statistical purposes. The CIT(A) was directed to reconsider the retained addition and interest charged under Section 234B in line with the Tribunal's decision for AY 2009-10, which was applied mutatis mutandis to AY 2010-11. en-us Mon, 30 Dec 2019 00:00:00 +0530 Mon, 17 Feb 2020 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392333 The Tribunal upheld the validity of reassessment proceedings initiated under Section 147 and directed the AO to restrict additions to the GP rate on disputed purchases. The appeals by the Revenue and cross-objections by the assessee were partly allowed for statistical purposes. The CIT(A) was directed to reconsider the retained addition and interest charged under Section 234B in line with the Tribunal's decision for AY 2009-10, which was applied mutatis mutandis to AY 2010-11. Case-Laws Income Tax Mon, 30 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392333