In the result, both the appeals filed by the assessee in ITA
Bench: SH. KUL BHARAT, VICE PRESIDENT AND SH. NIKHIL CHOUDHARY (Accountant Member)
bogus transactions relating to sales and purchases of Rs.63,81,578/- during the financial year 2015-16 and Rs.1,13,37,168/- during the financial year 2016-17. Therefore, he reopened the case after recording reasons and obtaining the necessary approvals where required. The ld. AO records that subsequently, in compliance to the judgment of the Hon’ble Supreme Court