https://www.taxtmi.com/caselaws?id=415436 The Tribunal partially allowed the appeal, upholding the Assessing Officer's decision to disallow 12.5% of non-genuine purchases made by the assessee. The first issue regarding the re-opening of assessment under section 147 was not adjudicated as it became academic after the second issue was decided in favor of the assessee. The Tribunal found the disallowance of 100% of alleged bogus purchases by the CIT(A) excessive, emphasizing the need for the assessee to prove the genuineness of purchases. The decision was based on the failure to provide adequate documentation supporting the purchases. en-us Mon, 13 Sep 2021 00:00:00 +0530 Mon, 06 Dec 2021 09:36:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415436 The Tribunal partially allowed the appeal, upholding the Assessing Officer's decision to disallow 12.5% of non-genuine purchases made by the assessee. The first issue regarding the re-opening of assessment under section 147 was not adjudicated as it became academic after the second issue was decided in favor of the assessee. The Tribunal found the disallowance of 100% of alleged bogus purchases by the CIT(A) excessive, emphasizing the need for the assessee to prove the genuineness of purchases. The decision was based on the failure to provide adequate documentation supporting the purchases. Case-Laws Income Tax Mon, 13 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415436