Reassessment u/s 147 valid if assesse had deemed notice of reassessment proceedings

Brief Facts of the Case and Question of Law

Brief Facts

For AY 2008-09, the assessee had reported an income of Rs.444/-. This was processed under Section 143 (1). Upon an enquiry and investigation report, the AO issued notice under Section 148, doubting a transaction based upon the transfer of shares and purchase by two subsequent transferees i.e. Raghubir Singh and SimranjeetKaur. The assessment was completed with the addition of that amoun

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