Profit eligible for 80-ia prompts ao for reassessment

Artificially increasing the profit eligible for sec. 80-IA deduction prompts AO to initiate reassessment

Where in course of assessment, assessee did not disclose that it charged higher rate of interest on delayed payment of goods from its sister concern so as to increase its profits eligible for deduction under section 80-IA, Assessing Officer was justified in initiating reassessment proceedings