https://www.taxtmi.com/highlights?id=66622 Reopening of assessment u/s 147 - bogus purchases - not only there existed new information with the AO from the credible sources, but also he had applied his mind and recorded the conclusion that the purchases claimed were non-genuine and therefore bogus, (clearly meaning that what was disclosed was false and untruthful). The requirements of section 147 r.w.s. 148 have clearly been met; and the reopening is held justified and legal. - AT en-us Fri, 18 Nov 2022 10:34:32 +0530 Fri, 18 Nov 2022 10:34:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66622 Reopening of assessment u/s 147 - bogus purchases - not only there existed new information with the AO from the credible sources, but also he had applied his mind and recorded the conclusion that the purchases claimed were non-genuine and therefore bogus, (clearly meaning that what was disclosed was false and untruthful). The requirements of section 147 r.w.s. 148 have clearly been met; and the reopening is held justified and legal. - AT Highlights Income Tax Fri, 18 Nov 2022 10:34:32 +0530 https://www.taxtmi.com/highlights?id=66622