https://www.taxtmi.com/caselaws?id=244531 The Court upheld the validity of the notice issued under Section 148 read with Section 147 for reopening the assessment for the Assessment Year 2006-07 based on information received regarding accommodation entries provided by bogus companies. It emphasized the necessity of establishing a valid reason to believe income escapement for lawful reopening of assessments under Section 147, ultimately dismissing the petition without costs awarded. en-us Wed, 12 Feb 2014 00:00:00 +0530 Fri, 28 Feb 2014 07:02:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244531 The Court upheld the validity of the notice issued under Section 148 read with Section 147 for reopening the assessment for the Assessment Year 2006-07 based on information received regarding accommodation entries provided by bogus companies. It emphasized the necessity of establishing a valid reason to believe income escapement for lawful reopening of assessments under Section 147, ultimately dismissing the petition without costs awarded. Case-Laws Income Tax Wed, 12 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244531