https://www.taxtmi.com/caselaws?id=410787 The Tribunal upheld the validity of reassessment proceedings under section 147 of the Income Tax Act, confirming the AO's actions were based on post-assessment information. Regarding various additions and disallowances, the Tribunal generally supported the CIT(A)'s decisions, such as limiting additions for bogus purchases to 25% of the amount and disallowing expenses related to such transactions. However, certain issues were remanded back to the AO for fresh adjudication, emphasizing the need for verification and proper documentation. The Tribunal dismissed one ground of appeal not pressed by the assessee and directed further scrutiny on specific disallowances, ensuring compliance with legal provisions and past assessments. en-us Thu, 29 Jul 2021 00:00:00 +0530 Mon, 09 Aug 2021 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410787 The Tribunal upheld the validity of reassessment proceedings under section 147 of the Income Tax Act, confirming the AO's actions were based on post-assessment information. Regarding various additions and disallowances, the Tribunal generally supported the CIT(A)'s decisions, such as limiting additions for bogus purchases to 25% of the amount and disallowing expenses related to such transactions. However, certain issues were remanded back to the AO for fresh adjudication, emphasizing the need for verification and proper documentation. The Tribunal dismissed one ground of appeal not pressed by the assessee and directed further scrutiny on specific disallowances, ensuring compliance with legal provisions and past assessments. Case-Laws Income Tax Thu, 29 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410787