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2015 (10) TMI 525 - AT - Income TaxValidity of reopening of assessment - non approval from competent authority - accommodation entry receipts - Held that:- Respectfully following the above decision in the case of SPL’S Siddhartha Ltd. [2011 (9) TMI 640 - DELHI HIGH COURT] hold that the assessment reopened with the approval of Commissioner of Income-tax, whereas the statute required the approval of the Joint Commissioner of Income-tax, is not valid. We, therefore, quash the reopening of assessment. Since the reopening of assessment itself has been quashed, the consequential assessment orders passed for the above asstt. years 2002-03 is also quashed. As we have already quashed the assessment orders, the various grounds of appeal raised by the assessee against the additions made by the Assessing Officer need no adjudication. - Decided in favour of assessee.
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