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Assessment Reopening Challenged: Assessee Proves Loan Authenticity by Repaying Before Original Assessment and Section 147 Proceedings.

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....Validity of reopening of assessment u/s 147 - assessee availed the loan is an accommodation entry provider - The bona fide of the assessee is further proved from the fact that not only the assessee paid interest on the loan availed and deducted tax at source, but, the entire loan amount was repaid to the lender in the financial year 2013-14, even, prior to the completion of the original assessment and much before initiation of proceedings u/s 147 of the Act. - AT....