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Section 147 Reopens Case: Assessee Fails to Prove Purchases, Bogus Transactions Confirmed, Income Additions Upheld.

Reopening of assessment u/s 147 - Bogus purchases - In view of failure on the part of the assessee in substantiating the purchases from those two parties, the Assessing Officer in background of the information in investigation report, interalia, those parties were engaged in providing accommodation entries, without physical delivery of goods, held the purchases from those two parties as bogus purchases. - Additions confirmed - AT .....

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