Reassessment Valid if Investor Identity Disclosure Insufficient u/s 147; Source Detail Required for Compliance.

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....Validity of reopening of assessment - the mere disclosure of the identity of the investor (as being holding company of assessee) in the return of income and the audited financial statements of the assessee as the source of share application money received, is not sufficient to constitute “disclosure” under the proviso to section 147. - HC....