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2021 (4) TMI 193 - AT - Income TaxReopening of assessment u/s 147 - addition u/s 68 - reasons recorded AO has mentioned that accommodation entry has been escaped and issued noticed u/s. 148 - HELD THAT:- In response to notice assessee filed the objection which was decided in a summary manner. We further find that after considering the reply filed by the assessee as well as documentary evidences, the AO has made the addition of ₹ 15 lacs u/s. 68 of the Act whereas AO has issued the notice u/s.148 of the Act for escapement of income of ₹ 75 lacs which is contrary in law and shows the non-application of mind on the part of the assessee. Hence, on this account, the assessment in dispute framed by the AO is bad in law and deserve to be quashed. Exactly under the similar facts and circumstances there are various cases, as relied by the ld. Counsel for the assessee, in which similar issue has been adjudicated and decided in favour of the assesee wherein the assessment has been quashed, especially in the recent decision passed in the case of Smt. Meena Gupta [2020 (9) TMI 533 - ITAT DELHI] - Thus assessment framed in the present case is hereby quashed. - Decided in favour of assessee.
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