https://www.taxtmi.com/caselaws?id=762676 Gujarat HC upheld reopening of assessment under Section 147 and confirmed 6% addition on bogus purchases. Court found no seized material pertaining to assessees during search, making reopening valid. Both CIT (Appeals) and Tribunal provided cogent reasons for estimated addition, with CIT (Appeals) allowing 5% and Tribunal increasing to 6%. HC maintained consistency with similar cases involving accommodation entries in related group assessments, dismissing revenue's appeals. en-us Tue, 29 Oct 2024 00:00:00 +0530 Wed, 04 Dec 2024 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762676 Gujarat HC upheld reopening of assessment under Section 147 and confirmed 6% addition on bogus purchases. Court found no seized material pertaining to assessees during search, making reopening valid. Both CIT (Appeals) and Tribunal provided cogent reasons for estimated addition, with CIT (Appeals) allowing 5% and Tribunal increasing to 6%. HC maintained consistency with similar cases involving accommodation entries in related group assessments, dismissing revenue's appeals. Case-Laws Income Tax Tue, 29 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762676