Validity of the reassessment proceeding framed u/s 147 - ...

Reassessment Valid u/s 147: Bogus Purchases Justify Action, Freight Expenses Irrelevant to Proceedings' Legitimacy.

August 10, 2021

Case Laws Income Tax AT

Validity of the reassessment proceeding framed u/s 147 - Admittedly, the addition on account of bogus purchases has been made by the AO which is sufficient enough for initiating the proceedings under section 147 of the Act - initiation of the proceedings cannot be held invalid merely on the reasoning that there was no addition made by the AO on account of freight expenses though there was the mention of such expenses in the reasons recorded. - AT

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Validity of the reassessment proceeding framed u/s 147 - ...

Reassessment Valid u/s 147: Bogus Purchases Justify Action, Freight Expenses Irrelevant to Proceedings' Legitimacy.

August 10, 2021

Case Laws Income Tax AT

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