https://www.taxtmi.com/caselaws?id=405437 The tribunal partially allowed the appeal, reducing the disallowance percentage for unverifiable purchases to 8% of the total sales amount. The Assessee's challenge against the reopening of assessment under section 147 of the Act was unsuccessful due to insufficient documentation. The tribunal considered relevant case law emphasizing factors like profit rates and documentation, leading to the reduction in disallowance percentage. en-us Fri, 12 Mar 2021 00:00:00 +0530 Sat, 20 Mar 2021 08:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405437 The tribunal partially allowed the appeal, reducing the disallowance percentage for unverifiable purchases to 8% of the total sales amount. The Assessee's challenge against the reopening of assessment under section 147 of the Act was unsuccessful due to insufficient documentation. The tribunal considered relevant case law emphasizing factors like profit rates and documentation, leading to the reduction in disallowance percentage. Case-Laws Income Tax Fri, 12 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405437