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2012 (11) TMI 895 - DELHI HIGH COURTValidity of Reassessment proceedings - reason to believe – additions on account of unexplained share capital - assessee had accepted the accommodation entries in the garb of share capital – Held that:- the reasons which persuaded the AO to reopen the reassessment proceedings and on the basis of which additions were made were not found valid or justifiable as those additions were deleted by the Tribunal. Since the grounds for reopening the reassessment do not exist any longer and no additions were ultimately made on that account, the additions in respect of other items which were not part of "reasons to believe" cannot be made. - Decided in favor of assessee.
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