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2016 (5) TMI 1223 - AT - Income TaxReopening of assessment - accommodation entries receipt - Held that:- No addition has been made in respect of the accommodation entry from M/s. Zigma Telecom Private Limited and the additions made are in respect of the parties, which are not mentioned in reasons recorded by the Assessing Officer. Thus, respectfully following the ratio of the judgment of the Hon’ble Delhi High Court in the case of Ranbaxy Laboratories Ltd (2011 (6) TMI 4 - DELHI HIGH COURT ), we are of the opinion that the reassessment proceedings are invalid in law, therefore, we the quash the reassessment proceedings in the case of the assessee initiated by the Assessing Officer. - Decided in favour of assessee.
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