https://www.taxtmi.com/caselaws?id=427553 The Tribunal upheld the reopening of the assessment based on tangible material from the DGIT (Investigation) but deleted the addition under section 69C for alleged bogus purchases. Consequently, the disallowance of the deduction under section 80IB was not sustained, as the primary addition for which the assessment was reopened was deleted. The Tribunal emphasized the importance of independent inquiries by the AO and providing the assessee an opportunity to rebut evidence. The appeal was partly allowed, directing the deletion of the addition and the allowance of the deduction. en-us Thu, 08 Sep 2022 00:00:00 +0530 Sat, 10 Sep 2022 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427553 The Tribunal upheld the reopening of the assessment based on tangible material from the DGIT (Investigation) but deleted the addition under section 69C for alleged bogus purchases. Consequently, the disallowance of the deduction under section 80IB was not sustained, as the primary addition for which the assessment was reopened was deleted. The Tribunal emphasized the importance of independent inquiries by the AO and providing the assessee an opportunity to rebut evidence. The appeal was partly allowed, directing the deletion of the addition and the allowance of the deduction. Case-Laws Income Tax Thu, 08 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427553