https://www.taxtmi.com/caselaws?id=215166 The High Court ruled in favor of the Revenue, upholding the jurisdiction of the Assessing Officer to reopen the assessment based on information from the Investigation Wing. The addition of Rs.2,20,00,000 as unexplained share application money was initially made but later deleted by the CIT (Appeals) due to sufficient documentation provided by the assessee. The addition of Rs.4,40,000 as commission paid for obtaining accommodation entries was also deleted. The High Court clarified that the AO is not required to prove that the share monies emanated from the assessee's coffers. The matter was remitted back to the AO for fresh consideration with modified directions. en-us Fri, 20 Jul 2012 00:00:00 +0530 Wed, 08 Jul 2026 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215166 The High Court ruled in favor of the Revenue, upholding the jurisdiction of the Assessing Officer to reopen the assessment based on information from the Investigation Wing. The addition of Rs.2,20,00,000 as unexplained share application money was initially made but later deleted by the CIT (Appeals) due to sufficient documentation provided by the assessee. The addition of Rs.4,40,000 as commission paid for obtaining accommodation entries was also deleted. The High Court clarified that the AO is not required to prove that the share monies emanated from the assessee's coffers. The matter was remitted back to the AO for fresh consideration with modified directions. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215166