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2015 (2) TMI 577 - AT - Income TaxReopening of assessment - CIT(A)quashing of notice issued under Section 148 - Held that:- From a perusal of the reasons recorded, it is evident that the Assessing Officer has mentioned about some information by which the assessee is the beneficiary of an accommodation entry of ₹ 6 lakhs because some bank instrument was got prepared on 19.04.2002 of ₹ 6 lakhs in favour of the assessee presentable at Bank of Baroda, Faridabad. Now, in the reasons recorded, there is no mention about the name of the person who are the alleged entry provider. The nature of the entry i.e. in which form the assessee is alleged to be taking entries is given. The information only says that some bank instrument of `6 lakhs was got prepared. When the factual details are compared with the reasons recorded, we find that the reasons recorded are vague and factually incorrect also. No bank instrument of `6 lakhs was received by the assessee. No justification to interfere with the order of learned CIT(A) - Decided against revenue. Addition of ₹ 12 lakhs - CIT(A) deleted the addition - Held that:- Once the reopening of assessment itself has been held to be invalid, consequentially, the assessment order passed in pursuance to such notice under Section 148 would not survive. - Decided against revenue.
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