Assessee-company filed its return of income which was subjected to scrutiny assessment. Thereafter, Assessing Officer reopened assessment based on information from Investigation Wing suggesting that assessee made bogus purchases from two suppliers but failed to establish any direct nexus between such purchases and alleged bogus transactions.  Tribunal deleted addition on ground that assessee had in fact established genuineness of purchases made from named two persons and same could not be considered bogus.  Findings of fact, which were premised on cogent material could not by any stretch of imagination be termed as perverse or unsustainable. Court also held that  since there was no material on record which would substantiate that purchases reflected were accommodation entries, and tax effect was below ₹2 crores threshold as stipulated in CBDT Circular No. 9/2024 dated 17-09-2024, revenue’s appeal was dismissed.  (AY. 2011-12)