https://www.taxtmi.com/caselaws?id=438991 The Tribunal upheld the validity of the reassessment proceedings under section 147 of the Income Tax Act, 1961, and the addition of Rs. 85,52,431 to the income of the assessee. Despite the genuineness of the purchases being questionable, the Tribunal affirmed the decision to restrict the addition to 25% of the alleged bogus purchase amount. The order was pronounced on 18th May, 2023. en-us Thu, 18 May 2023 00:00:00 +0530 Tue, 13 Jun 2023 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438991 The Tribunal upheld the validity of the reassessment proceedings under section 147 of the Income Tax Act, 1961, and the addition of Rs. 85,52,431 to the income of the assessee. Despite the genuineness of the purchases being questionable, the Tribunal affirmed the decision to restrict the addition to 25% of the alleged bogus purchase amount. The order was pronounced on 18th May, 2023. Case-Laws Income Tax Thu, 18 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438991