INCOME TAX : Where assessee was aware that transaction with a company was not business transaction but in form of bogus purchase, it was only an accommodation entries and it was one of beneficiaries of transactions and despite of this, failed to disclose true and correct facts at relevant time, Assessing Officer was entitled to initiate reassessment proceedingsINCOME TAX : Where assessee was aware that transaction with a company was not business transaction but in form of bogus purchase, it was only an accommodation entries and it was one of beneficiaries of transactions and despite of this, failed to disclose true and correct facts at relevant time, Assessing Officer was entitled to initiate reassessment proceedingswww.taxmann.com Latest Case LawsRead More
