Held that all advance receivable are recorded in the books of account. All advances and payments made through banking channels hence re assessment is not valid.(AY.2012-13)
Tej Organisers P. Ltd. v. ITO (2024)114 ITR 61 (SN) (Ahd)(Trib)
S. 147 : Reassessment-Information from Additional Director of Income-Tax (Inv.)-Advance receivable-Recorded in the books of account-All advances and payments made through banking channels-Re assessment is not valid.[S.143(3), 148]
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