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2020 (12) TMI 1199 - AT - Income TaxReopening of assessment - addition u/s 68 - Information was received from the investigation wing regarding the assessee was beneficiary of the accommodation entry - HELD THAT:- As perused the order passed by the Revenue Authority especially assessment order and we are of the view that no doubt there is information from the investigation wing. But in this case no enquiry has been conducted by the Assessing Officer and the said information could not be said to be the tangible material. Therefore, on this ground reassessment was not justified. See RMG POLYVINYL (I) LTD. [2017 (7) TMI 371 - DELHI HIGH COURT] Case of the assessee was reopened on the basis of information received from the Investigation wing but the Assessing Officer has not made any enquiry on this information and reopened the case of the assessee and made the addition in dispute and completed the assessment. Similarly learned First Appellate Authority has also upheld the assessment order. In our view it is contrary to the various decision rendered by the Hon’ble Delhi High Court. Therefore, the reassessment on the basis of said information is not justified and legally valid, we quash the assessment order - Decided in favour of assessee.
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