BETEX INDIA LIMITED,SURAT vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2, SURAT
In the result, Ground No. 4 to 6 raised by the Revenue in ITA
ITA 171/SRT/2021[2008-09]Status: DisposedITAT Surat23 Dec 2022AY 2008-09
Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.
For Appellant: Shri Rasesh Shah, CAFor Respondent: Sr. DR
Section 143(3)
bogus transaction and in such event, mere disclosure of the transaction cannot be said to be true and full disclosure and the Income-tax Officer would have jurisdiction to reopen the concluded assessment. It would be apt to quote some observations of the Apex Court in the case of Phul Chand Bajrang Lal (supra), which read as under