Reassessment could be made beyond four years on basis of bogus transactions unearthed during survey: HC

August 29, 2014[2014] 48 taxmann.com 20 (Bombay)

IT : Where subsequent to completion of assessment, Assessing Officer received information from a survey that assessee had entered into bogus purchase transactions, he was justified in initiating reassessment proceedings on basis of those bogus invoices issued by supplier even after expiry of four years from end of relevant assessment year