Reassessment Based on Mechanical “Fit Case” Approval Under Section 151 and Uncorroborated Statement for Bogus Purchases Is Invalid and Ineffective
Reassessment Based on Mechanical “Fit Case” Approval Under Section 151 and Uncorroborated Statement for Bogus Purchases Is Invalid and Ineffective Issue Whether approval granted under Section 151 of the Income-tax Act by writing merely “fit case” without independent application of mind or examination of material constitutes valid statutory sanction for issuing notice under Section 148.… Read More »