https://www.taxtmi.com/highlights?id=76956 Estimation of income - Bogus purchases - Second reopening assessment proceedings - The Tribunal affirms the decision of the CIT-A to delete the addition made under Section 69C. It emphasizes that the appellant's case had already been reopened and reassessed for alleged bogus purchases in earlier proceedings, wherein a net profit rate of 5.76% was determined and confirmed. Consequently, the Tribunal finds no justification for further additions. en-us Mon, 29 Apr 2024 07:30:52 +0530 Mon, 29 Apr 2024 07:30:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76956 Estimation of income - Bogus purchases - Second reopening assessment proceedings - The Tribunal affirms the decision of the CIT-A to delete the addition made under Section 69C. It emphasizes that the appellant's case had already been reopened and reassessed for alleged bogus purchases in earlier proceedings, wherein a net profit rate of 5.76% was determined and confirmed. Consequently, the Tribunal finds no justification for further additions. Highlights Income Tax Mon, 29 Apr 2024 07:30:52 +0530 https://www.taxtmi.com/highlights?id=76956