https://www.taxtmi.com/caselaws?id=462592 ITAT SURAT upheld AO's reopening of assessment u/s 147 for accommodating entries case. Assessee failed to prove genuineness of transactions with parties, establishing reason to believe income escaped assessment. Tribunal confirmed addition of 6% on bogus purchases following precedent and 2% commission on accommodation entries for unaccounted cash payments. Assessee's appeal was partly allowed with additions sustained. en-us Tue, 26 Mar 2024 00:00:00 +0530 Wed, 02 Jul 2025 19:03:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462592 ITAT SURAT upheld AO's reopening of assessment u/s 147 for accommodating entries case. Assessee failed to prove genuineness of transactions with parties, establishing reason to believe income escaped assessment. Tribunal confirmed addition of 6% on bogus purchases following precedent and 2% commission on accommodation entries for unaccounted cash payments. Assessee's appeal was partly allowed with additions sustained. Case-Laws Income Tax Tue, 26 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462592