Reassessment Initiated u/s 147 for Alleged Bogus Purchases: AO to Confirm 2% and 5% Additions.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Reopening of assessment u/s 147 - Bogus purchases - AO directed to confirm the addition to the extent of 2% of the purchase amount involved in the alleged accommodation entry obtained by the assessee and further addition of 5 % to the extent of investment in goods procured by the assessee which has been sold.....


TaxTMI
TaxTMI