Reopening of assessment u/s 147 - Sham transaction - ...

Assessment Reopened u/s 147 Due to Alleged Sham Transactions; Directors' Admissions Back Assessing Officer's Decision.

April 16, 2021

Case Laws Income Tax AT

Reopening of assessment u/s 147 - Sham transaction - accommodation entries - during the search directors of the company admitted of providing accommodation entry, which statement was not denied by the assessee except by making a bald statement that the statement given by the directors are general in nature. The ld. CIT(A) has made detailed analysis of the material available on record and justified the action of the AO in making the impugned order. - AT

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Reopening of assessment u/s 147 - Sham transaction - ...

Assessment Reopened u/s 147 Due to Alleged Sham Transactions; Directors' Admissions Back Assessing Officer's Decision.

April 16, 2021

Case Laws Income Tax AT

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