https://www.taxtmi.com/caselaws?id=469067 Reassessment under sections 147 and 148 was treated as valid where reopening rested on specific, credible and tangible information from the Investigation Wing about accommodation entries and alleged bogus purchases, without requiring conclusive proof of escapement at that stage. For the purchase disallowance, where the sales were not rejected and the purchases were linked to entry-provider concerns, only the profit element embedded in the impugned purchases was considered taxable. Applying the governing estimate accepted in the matter, the addition was restricted to 6% of the disputed purchase value, granting partial relief to the assessee. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 01 Jun 2026 18:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469067 Reassessment under sections 147 and 148 was treated as valid where reopening rested on specific, credible and tangible information from the Investigation Wing about accommodation entries and alleged bogus purchases, without requiring conclusive proof of escapement at that stage. For the purchase disallowance, where the sales were not rejected and the purchases were linked to entry-provider concerns, only the profit element embedded in the impugned purchases was considered taxable. Applying the governing estimate accepted in the matter, the addition was restricted to 6% of the disputed purchase value, granting partial relief to the assessee. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469067