Tribunal held that statement recorded in course of search. Admission by person in control of Company. Suppression of sales. Statement not retracted, reassessment notice is valid. (AY. 2010-11, 2011-12, 2015-16)
APS Steel Pvt. Ltd v. ITO (2021) 91 ITR 25 (SN) (Bang.)(Trib.)
S. 147 : Reassessment-Statement recorded in course of search-Admission by person in control of Company-Suppression of sales-Statement not retracted-Reassessment notice is valid. [S. 132(4), 148]