3 results for “reassessment”+ Section 12clear
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Reassessment proceedings were initiated under Sections 147/148 of the Income Tax Act, 1961. The respondent-assessee had made bogus purchases of Rs.4.26 crores by inflating the expenses and thereby suppressed the profits by Rs.4.26 crores for the AY 2010-2011. 4. The bogus purchases were reflected by the statements of Sh. Madan Lal Pahuja and Jatinder Kumar before the Investigating