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

Case Laws Income Tax

July 18, 2023

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 ...

Case Laws Income Tax

July 18, 2023

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