Reassessment initiated just on basis of info received from investigation wing righty set-aside; SLP dismissed

INCOME TAX: SLP dismissed against High Court ruling that where assessee had duly supplied certificate of foreign inward remittance of funds, tax residence certificate of foreign company, copy of ledger account showing share application money being credited in bank account and source thereof, reassessment proceedings initiated in case of assessee on basis of information received from Investigation Wing that assessee had received huge amount towards share allotment from a Mauritius based company w

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