https://www.taxtmi.com/caselaws?id=302946 The ITAT set aside the assessment orders for all three years, allowing the assessee's appeals. The reassessment was initiated based on alleged bogus purchases, not URD purchases. The Hon'ble Bombay High Court ruled that if the initial reason for reassessment is found invalid, no further additions can be made. The ITAT found the AO's actions unjustified due to the lack of distinction between bogus and URD purchases, leading to the reversal of the assessment orders. en-us Fri, 22 Mar 2019 00:00:00 +0530 Sat, 25 Jun 2022 09:18:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302946 The ITAT set aside the assessment orders for all three years, allowing the assessee's appeals. The reassessment was initiated based on alleged bogus purchases, not URD purchases. The Hon'ble Bombay High Court ruled that if the initial reason for reassessment is found invalid, no further additions can be made. The ITAT found the AO's actions unjustified due to the lack of distinction between bogus and URD purchases, leading to the reversal of the assessment orders. Case-Laws Income Tax Fri, 22 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302946