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2020 (12) TMI 775 - AT - Income TaxReopening of assessment u/s 148 - non disposal of objections - accommodation entry receipts - HELD THAT:- As perused the assessment order and we find that the AO has disposed off the objections in the assessment order without passing a separate order which is the contrary to law an deserve to be cancelled on this count, in view of the decision of the Hon’ble Apex Court in the case of GKN Driveshaft [2002 (11) TMI 7 - SUPREME COURT] Also in the reasons, the AO has recorded that assessee has obtained the accommodation entry of ₹ 60 lacs in the name of 6 dummy / paper companies during the year under consideration, but finally made the addition of ₹ 50 lacs in the assessment order which also shows that AO has not applied his mind before recording the reasons in issuing the notice u/s. 148 of the Act. Therefore, the addition in dispute deserve to be cancelled. - Decided in favour of assessee.
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