https://www.taxtmi.com/caselaws?id=776437 The ITAT Delhi upheld the reopening of assessment under section 147, finding sufficient reasons based on search and seizure operations revealing accommodation entries linked to bogus purchases. The assessee was identified as a beneficiary in the investigation, validating the jurisdiction of the AO. The CIT(A)'s decision to sustain the reassessment was affirmed, dismissing the assessee's challenge on this ground. However, regarding the estimation of income from bogus purchases, the ITAT directed a restriction of the addition to 12.5% of the total bogus purchases, partially allowing the assessee's grounds and remanding the matter to the AO for recalculation accordingly. en-us Wed, 06 Aug 2025 00:00:00 +0530 Mon, 11 Aug 2025 08:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776437 The ITAT Delhi upheld the reopening of assessment under section 147, finding sufficient reasons based on search and seizure operations revealing accommodation entries linked to bogus purchases. The assessee was identified as a beneficiary in the investigation, validating the jurisdiction of the AO. The CIT(A)'s decision to sustain the reassessment was affirmed, dismissing the assessee's challenge on this ground. However, regarding the estimation of income from bogus purchases, the ITAT directed a restriction of the addition to 12.5% of the total bogus purchases, partially allowing the assessee's grounds and remanding the matter to the AO for recalculation accordingly. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776437