https://www.taxtmi.com/caselaws?id=234106 The HC held that reassessment proceedings under section 147 were invalid as the AO failed to specify the details of bogus entries or transactions allegedly involving the assessee. The AO did not identify who gave or received such entries, the dates, modes, or the nature and amount of unexplained income. The mere reference to information from the Director of Income-tax (Inv.) without particulars was insufficient to form a reason to believe that income had escaped assessment. Consequently, the initiation of reassessment proceedings was quashed in favor of the assessee. en-us Mon, 20 May 2013 00:00:00 +0530 Mon, 04 Aug 2025 17:08:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234106 The HC held that reassessment proceedings under section 147 were invalid as the AO failed to specify the details of bogus entries or transactions allegedly involving the assessee. The AO did not identify who gave or received such entries, the dates, modes, or the nature and amount of unexplained income. The mere reference to information from the Director of Income-tax (Inv.) without particulars was insufficient to form a reason to believe that income had escaped assessment. Consequently, the initiation of reassessment proceedings was quashed in favor of the assessee. Case-Laws Income Tax Mon, 20 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234106