Absence of reply from the creditors do not entitle the Assessing Officer to treat the creditors as bogus without bringing any evidence
Reason to suspect is not reason to believe and cannot be a basis for reassessment proceedings: Delhi HC
Re-assessment proceedings without an approval as envisaged u/s 151 of the Act would be non-est and liable to be quashed:ITAT Dehradun
No disallowance u/s 40A(2)(b) on interest paid to related party without comparing it with FMV of rate of interest: ITAT
Delhi HC recently had an occasion to consider the scope of section 263 vis a vis Non enquiry and inadequate enquiry.
TDS deductors receiving notices for not deducting TDS at 20% in case of payee not linking PAN with Aadhar: