https://www.taxtmi.com/caselaws?id=429707 The case involved the reopening of assessment for the Assessment Year 2008-09 due to income escaping assessment via accommodation entries. The Assessing Officer disallowed unverifiable purchases, initially at 100% but reduced to 5% by the ld. CIT(A) based on industry norms. Both Revenue and Assessee appealed, resulting in the Tribunal increasing the disallowance to 6%. The Assessee's appeal was dismissed. en-us Mon, 31 Oct 2022 00:00:00 +0530 Thu, 03 Nov 2022 09:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429707 The case involved the reopening of assessment for the Assessment Year 2008-09 due to income escaping assessment via accommodation entries. The Assessing Officer disallowed unverifiable purchases, initially at 100% but reduced to 5% by the ld. CIT(A) based on industry norms. Both Revenue and Assessee appealed, resulting in the Tribunal increasing the disallowance to 6%. The Assessee's appeal was dismissed. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429707