2019 (11) TMI 215

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....RSHA DEVANI) 1. Mr. Tushar Hemani, Senior Advocate, learned counsel with Ms. Vaibhavi K. Parikh and Mr. Parimalsinh B. Parmar, learned advocates for the petitioner invited the attention of the court to the reasons recorded to point out that in this case, though the assessment is sought to be reopened beyond a period of four years from the end of the relevant assessment year, there is not even a ....

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....t. The attention of the court was invited to the notice issued by the Assessing Officer on 25.6.2014 calling upon the petitioner to furnish complete details of all sundry creditors along with full name, address and amount as well as to furnish complete detail of local purchase/local sale. It was submitted that in response thereto the petitioner had submitted details of sundry creditors wherein Dha....

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....opened viz. that the petitioner had made a bogus claim of exemption under section 10AA of the Act, it was submitted that this issue was also gone into threadbare at the time of scrutiny assessment. It was submitted that even if such purchase is disallowed, the exempted profit will go up and hence, there is no escapement of income and hence, the formation of belief that the income chargeable to tax....