https://www.taxtmi.com/caselaws?id=395565 The Tribunal partly allowed the appeals, upholding the reopening of assessments under Section 147 of the Income Tax Act. The additions based on bogus purchases were modified, restricting the addition to 2% of the purchase amount as commission for obtaining accommodation entries and an additional 5% for investment in goods procured outside the books. The Tribunal directed the Assessing Officer to delete the remaining additions, providing partial relief to the assessee. en-us Tue, 26 May 2020 00:00:00 +0530 Thu, 28 May 2020 11:46:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395565 The Tribunal partly allowed the appeals, upholding the reopening of assessments under Section 147 of the Income Tax Act. The additions based on bogus purchases were modified, restricting the addition to 2% of the purchase amount as commission for obtaining accommodation entries and an additional 5% for investment in goods procured outside the books. The Tribunal directed the Assessing Officer to delete the remaining additions, providing partial relief to the assessee. Case-Laws Income Tax Tue, 26 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395565