https://www.taxtmi.com/caselaws?id=298659 The Tribunal upheld the validity of the impugned reopening of assessments based on tangible material from the Investigation Wing, dismissing the assessee's objections. The Tribunal restricted the disallowance of alleged bogus purchases to 8% in three assessment years, emphasizing the case-specific nature of such estimations and cautioning against setting a precedent. en-us Wed, 18 Aug 2021 00:00:00 +0530 Sat, 13 Nov 2021 20:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298659 The Tribunal upheld the validity of the impugned reopening of assessments based on tangible material from the Investigation Wing, dismissing the assessee's objections. The Tribunal restricted the disallowance of alleged bogus purchases to 8% in three assessment years, emphasizing the case-specific nature of such estimations and cautioning against setting a precedent. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298659