Held that there is no failure to disclose material facts and no defects in the books of account maintained by the assessee. Addition on account of bogus purchase is unjustified. Reassessment is quashed. (AY.2011-12)
Dy. CIT v. Aggarwal Construction Co. (2024)116 ITR 432 (Trib) (Amritsar)(Trib)
S. 147 : Reassessment-After the expiry of four years-Bogus purchases-Change of opinion-No failure to disclose material facts-Reassessment is quashed.[S.69A, 69C, 148]