Court Rejects Speculative Tax Reassessment: No Evidence of Rs. 67 Crore Investment in Small Capital Firm, Sections 147 & 68.

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....Reopening of assessment u/s 147 - Addition u/s 68 - Merely saying that assessee has a small capital of ₹ 1 lakh and nobody would invest in such a company of the sum to the magnitude of ₹ 67 crores remains merely conjectures and surmises in view of the overwhelming evidences submitted by the assessee and absence of any inquiry by the revenue. for several years - AT....