https://www.taxtmi.com/caselaws?id=433784 The Tribunal partly allowed the Revenue's appeal by directing the Assessing Officer to exclude the unsecured loan amount from M/s Krishna Diamond Pvt. Ltd. as bogus purchases and sustain the addition at a rate of 6% on the remaining identified bogus purchases. The Tribunal upheld the validity of the assessment reopening based on credible third-party information. The final decision was issued on 30/01/2023. en-us Mon, 30 Jan 2023 00:00:00 +0530 Wed, 08 Feb 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433784 The Tribunal partly allowed the Revenue's appeal by directing the Assessing Officer to exclude the unsecured loan amount from M/s Krishna Diamond Pvt. Ltd. as bogus purchases and sustain the addition at a rate of 6% on the remaining identified bogus purchases. The Tribunal upheld the validity of the assessment reopening based on credible third-party information. The final decision was issued on 30/01/2023. Case-Laws Income Tax Mon, 30 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433784