Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (3) TMI 1026 - AT - Income TaxReopening of assessment u/s 147 - bogus purchases - case was reopened on the basis of information received from DGIT (Investigation) Mumbai - During the course of search, blank cheque books signed by dummy partners / directors /proprietor of entities was found seized and as informed that assessee is one of the beneficiaries of bogus purchase from three entities managed by Bhanwarlal Jain Group - addition on merit to the extent of 25% of purchases - HELD THAT:- Considering the decision of this Tribunal for [2021 (10) TMI 653 - ITAT SURAT] wherein we have upheld the validity of reopening and sustained the additions of disputed purchase/ bogus purchase @ 6%. For the year under consideration the ld CIT(A) has already granted substantial relief in sustain the addition of said bogus purchase to the extent of 5% only. Thus, following the order of Tribunal in all the aforesaid years, the grounds of appeal raised by the assessee is dismissed.
|