Section 147&148 of the Income Tax Act, 1961 – Reassessment– Assessing officer had rightly reopened the assessment as AO had come to the conclusion that there was escapement of income on the ground of falsification of books of account and also manipulation of accounts for the last several years as well as the statement given by the chairman and material evidence which were necessary to be considered were not at all considered by the AO while passing the order under section 143(3)– Elem Investments P ltd v Assistant Commissioner of income tax [2020] 77 ITR (trib) 319(Hyderabad)