https://www.taxtmi.com/caselaws?id=430517 The Tribunal partly allowed the Revenue's appeals for all assessment years, directing a 10% disallowance of the alleged bogus subcontract expenses while upholding the validity of reopening assessments under section 147 of the Income Tax Act. The CIT(A) and Tribunal consistently ruled in favor of the assessee, emphasizing the lack of concrete evidence to support the disallowance of subcontract expenses as bogus. en-us Wed, 16 Nov 2022 00:00:00 +0530 Mon, 21 Nov 2022 09:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430517 The Tribunal partly allowed the Revenue's appeals for all assessment years, directing a 10% disallowance of the alleged bogus subcontract expenses while upholding the validity of reopening assessments under section 147 of the Income Tax Act. The CIT(A) and Tribunal consistently ruled in favor of the assessee, emphasizing the lack of concrete evidence to support the disallowance of subcontract expenses as bogus. Case-Laws Income Tax Wed, 16 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430517