2017 (9) TMI 1293

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..... ent, he did not himself undertake any inquiry into the question whether the purchases and sales were made from and to bogus entities. No additions allowed on cases of borrowed information - Decided in favour of assessee. - ITA 390/2016 - - - Dated:- 14-9-2017 - S. Muralidhar And Prathiba M. Singh, JJ. For the Appellant : Mr. Rahul Chaudhary, Senior Standing Counsel For the Respondent .....

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..... lleged that the corresponding sales made thereafter were also to bogus entities. The AO issued notice to the Assessee under Section 148 of the Act for reopening the assessment for the AY in question on the basis of a report of the Directorate of Revenue Intelligence ( DRI ) which ultimately resulted in a closure report being filed by the Central Bureau of Investigation in the criminal Court. Despi .....

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