Allegation of Bogus Transaction in absence of Corroborative Evidence is invalid: Delhi HC Sets aside Notice issued u/s 148 of Income Tax Act [Read Order]

Allegation - Bogus Transaction - Allegation of Bogus Transaction - taxscan

The Delhi High Court set aside the notice issued under section 148 of the Income Tax Act, 1961 in an allegation of bogus transaction in the absence of Corroborative Evidence is invalid.                                        It was alleged that the petitioners/assessees, Gudwala and Sons and Another are beneficiaries of accommodation entry provided by one Mr…

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