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2016 (7) TMI 1450 - AT - Income TaxValidity of the reassessment proceedings u/s 147 - unaccounted share application money received - accommodation entries - information received from Investigation Wing - non independent application of mind - Held that:- The reopening was done by the AO only on the basis of the information received from Investigation Wing - the person from whom assessee received share application money was entry operator - however, in the assessment of the said company i.e. M/s Singhal Securities Pvt. Ltd., no such findings has given neither any addition was made while framing the assessment u/s 153C/153A - Keeping in view the ratio laid down in M/s Dhanuka Agritech Ltd. Vs ACIT [2016 (6) TMI 214 - ITAT DELHI] are of the view that are of the view that the reopening done by the AO u/s 147 was not valid and accordingly void-ab-initio and therefore the same is quashed. - Decided in favour of assessee.
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