The return was  accepted u/s 143(1) of the Act.  On the basis of information that the expenses claimed as counselling charges was  Payment to bogus companies. Accordingly the reassessment proceedings was initiated. On appeal the Tribunal affirmed the reassessment proceeding and  as regards genuineness of payments made was concerned, in view of fact that two companies to whom payments were made were not found traceable and their existence, presence, infrastructure and nature of services rendered by them were not proved at all, Assessing Officer was justified in disallowing expenditure incurred under head business counselling charges. (AY. 2011-12)