Reassessment held justified as share application money was found to be received from shell Cos during investigation

INCOME TAX : Where assessee company received share application money from several companies and Assessing Officer issued a reopening notice against assessee on ground that an information was received from investigation wing that companies from which share application money was received by assessee were shell/paper concerns, since during investigation it was established that no business was carried on at registered addresses of these companies and same were actually residential premises,

from www.taxmann.com Latest Case Laws https://ift.tt/2VK8TF1