https://www.taxtmi.com/caselaws?id=303804 The tribunal set aside the CIT(A) decision and restricted the addition to 5% of bogus purchases, including the 4.38% profit already declared by the assessee. The assessment was reopened based on information regarding bogus purchases, with the tribunal focusing on the validity of the addition and restricting it to 5% of the bogus purchases. The completion of assessment under section 144 was challenged due to improper service of statutory notices, but the tribunal restricted the addition to 5% of the bogus purchases. The addition of 15,61,217 was confirmed by the CIT(A) based on purchases and VAT considerations, but the tribunal overturned this decision, partly allowing the appeal in favor of the assessee against the revenue. en-us Wed, 07 Apr 2021 00:00:00 +0530 Tue, 16 Aug 2022 09:04:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303804 The tribunal set aside the CIT(A) decision and restricted the addition to 5% of bogus purchases, including the 4.38% profit already declared by the assessee. The assessment was reopened based on information regarding bogus purchases, with the tribunal focusing on the validity of the addition and restricting it to 5% of the bogus purchases. The completion of assessment under section 144 was challenged due to improper service of statutory notices, but the tribunal restricted the addition to 5% of the bogus purchases. The addition of 15,61,217 was confirmed by the CIT(A) based on purchases and VAT considerations, but the tribunal overturned this decision, partly allowing the appeal in favor of the assessee against the revenue. Case-Laws Income Tax Wed, 07 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303804