Reopening of assessment u/s 147 - Reopening beyond period of ...

High Court Quashes Income Tax Reassessment Notice; Lack of Evidence on Alleged Bogus Entries u/s 147.

July 18, 2023

Case Laws Income Tax HC

Reopening of assessment u/s 147 - Reopening beyond period of four years - reasons to believe - Even assuming, Revenues’ case is petitioner should have disclosed that these were bogus or accommodation entries, still there is nothing on record to indicate that petitioner was aware that these were bogus shares capital/premium from bogus paper companies, viz., SHPL and SCPL and were accommodation entries. - Notice quahsed and set aside - HC

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Reopening of assessment u/s 147 - Reopening beyond period of ...

High Court Quashes Income Tax Reassessment Notice; Lack of Evidence on Alleged Bogus Entries u/s 147.

July 18, 2023

Case Laws Income Tax HC

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