https://www.taxtmi.com/caselaws?id=29456 The court held that the assessment could be reopened under section 147(a) based on the assumption that M/s. Afgan Fruit Company was a ghost firm. The Tribunal's decision to remand the case for further investigation into the genuineness of the firm and the correctness of the assertion by Gulab Singh Jain was endorsed. The court ruled in favor of the department and against the assessee, leaving the parties to bear their own costs pending the outcome of the remanded proceedings. en-us Wed, 30 Sep 1981 00:00:00 +0530 Sat, 13 Mar 2010 10:33:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29456 The court held that the assessment could be reopened under section 147(a) based on the assumption that M/s. Afgan Fruit Company was a ghost firm. The Tribunal's decision to remand the case for further investigation into the genuineness of the firm and the correctness of the assertion by Gulab Singh Jain was endorsed. The court ruled in favor of the department and against the assessee, leaving the parties to bear their own costs pending the outcome of the remanded proceedings. Case-Laws Income Tax Wed, 30 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29456