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2022 (11) TMI 361 - AT - Income TaxReopening of assessment u/s 147 - HELD THAT:- We heard the rival submission and considered the documents available in the record related to the grounds of the appeal by challenging the notice u/s. 148, AO has erred to issue the notice by mentioning Rs. 10 lac paid by the assessee. The said notice has no relevance with the observation in factual aspect. The reasons recorded in fact there is no live nexus related to this payment and assessee's books of account. Recorded reasons itself erroneous and the notice is liable to be quashed. Bogus purchases - The assessee by his evidence able to prove the transaction with the party and also the next stage of transaction was also proved. None of the parties denied the said transactions. In fact, the assessee had not filed return during the assessment year. But in succeeding year the return was filed. There was no proof that the said amount was returned back to the assessee by other mode of transactions. Respectfully considered the order of the Apex Court, the assessee is able to proof the transaction with the party and business activities are going on just beyond the doubt.
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