Supreme Court Upholds Gujarat HC Ruling on Bogus Purchases, Block Assessment

N.K. Proteins Ltd. Vs DCIT (Supreme Court of India) Supreme Court of India has dismissed the Special Leave Petitions filed in the case of N.K. Proteins Ltd. Vs DCIT, thereby upholding the judgment of the Gujarat High Court concerning additions made during block assessment proceedings following a search and seizure operation. The Supreme Court’s brief order, condoning delay and dismissing the petitions, brings finality to the tax disputes spanning assessment years from 1988-89 to 1998-99 for the N.K. Group. The core of the legal battle, adjudicated primarily by the Gujarat High Court in N...