The reassessment procedure under section 148 was held invalid...

The reassessment procedure under section 148 was held invalid where the assessee was not supplied the adverse material relied upon for the section 148A(b) notice and the order under section 148A(d) did not deal with the factual objections raised in reply. The Tribunal noted that the assessee had sought the material said to connect it with accommodation entries, yet only a general narration was furnished and the reply was not meaningfully considered. Because the statutory pre-notice process was not properly followed, the assumption of jurisdiction under section 148 was vitiated. The notice under section 148, the section 148A(d) order, and the reassessment were quashed.

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