Allowing the appeal the Tribunal held that in original assessment proceedings, the assessee has produced the copies of the invoices and bank account statements. Reasons were recorded citing incorrect reasons and incorrect figures of alleged bogus purchases.. Re assessment is quashed. (AY.2012-13)
Aggarwal Construction Co. v. Dy. CIT (2024)116 ITR 70 (SN)(Amritsar) (Trib)
S. 147 : Reassessment-After the expiry of four years-Bogus purchases-Information from investigation wing-Incorrect reasons recorded and incorrect figures-Re assessment is quashed. [S. 143(3), 148]