https://www.taxtmi.com/caselaws?id=396697 The appellate authority upheld the reopening of the assessment under Section 147 despite procedural lapses by the AO. The addition of Rs. 2,65,30,653/- as unexplained expenditure was reduced to Rs. 22,10,887/- based on an estimated average purchase. The gross profit addition of Rs. 10,76,686/- was confirmed, resulting in a total addition of Rs. 32,87,573/- as undisclosed income from undisclosed sales. The appeal by the revenue was dismissed, and the order of the CIT(A) was confirmed. en-us Fri, 12 Jun 2020 00:00:00 +0530 Thu, 16 Jul 2020 08:15:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396697 The appellate authority upheld the reopening of the assessment under Section 147 despite procedural lapses by the AO. The addition of Rs. 2,65,30,653/- as unexplained expenditure was reduced to Rs. 22,10,887/- based on an estimated average purchase. The gross profit addition of Rs. 10,76,686/- was confirmed, resulting in a total addition of Rs. 32,87,573/- as undisclosed income from undisclosed sales. The appeal by the revenue was dismissed, and the order of the CIT(A) was confirmed. Case-Laws Income Tax Fri, 12 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396697