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2017 (9) TMI 1293 - HC - Income TaxReopening of assessment - Addition of bogus purchases and export sales under Section 68 - reopening on the basis of a report of the Directorate of Revenue Intelligence (‘DRI’) - Held that:- Despite the AO being aware of the above development, he did not himself undertake any inquiry into the question whether the purchases and sales were made from and to bogus entities. No additions allowed on cases of borrowed information - Decided in favour of assessee.
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