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2015 (11) TMI 18 - ITAT DELHIReopening of assessment - Held that:- According to the information, the amount received from a company, S, was nothing but an accommodation entry and the assesee was the beneficiary. The reasons did not satisfy the requirements of Section 147 of the Act. There was no reference to any document or statement, except the annexure. The annexure could not be regarded as a material or evidence that prima facie showed or established nexus or link which disclosed escapement of income. The annexure was not a pointer and did not indicate escapement of income. Further, the Assessing Officer did not apply his own mind to the information and examine the basis and material of the information. - See GKN Driveshafts (India) Ltd. vs. ITO [2002 (11) TMI 7 - SUPREME Court] and Hotel Signatures Ltd. (2011 (7) TMI 361 - Delhi High Court). - Decided in favour of assessee.
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