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2023 (9) TMI 1165 - HC - Income TaxReopening of assessment - information received by the AO from the investigation wing in the form of statement recorded in the case of Sh. Madan Lal Pahuja - as alleged assessee had made bogus purchases by inflating the expenses and thereby suppressed the profits - HELD THAT:- An FIR had been registered against Madan Lal Pahuja on 13.09.2009. On 13.02.2023, learned counsel for the appellant sought time to get instructions whether any steps were taken with respect to the business transaction with bogus bills of Madan Lal Pahuja, who had been acquitted in the criminal trial. Today, as appellant informed that no steps were taken with respect to business transaction with bogus bills against Madan Lal Pahuja. In the present case, initiation of reassessment proceedings on the basis of the statement given by Madan Lal Pahuja and without giving assessee any opportunity of cross-examination were good grounds to allow the appeal of the assessee and does not require any interference as no substantial question of law arises for consideration in the present appeal. Hence, the instant appeal is dismissed.
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