https://www.taxtmi.com/caselaws?id=259207 Reopening of assessment challenged an allegation of accommodation entries for alleged unaccounted loans; court found payments made by account payee cheques, interest paid with TDS and returns filed, and particulars already furnished. The HC concluded the loans were taken in the regular course of business and documentary evidence did not show escaped income, rejecting the revenue's affidavit contentions. Consequently the proposed reopening was unjustified and the reassessment notice was quashed in favour of the assessee. en-us Wed, 15 Apr 2015 00:00:00 +0530 Sat, 31 Jan 2026 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259207 Reopening of assessment challenged an allegation of accommodation entries for alleged unaccounted loans; court found payments made by account payee cheques, interest paid with TDS and returns filed, and particulars already furnished. The HC concluded the loans were taken in the regular course of business and documentary evidence did not show escaped income, rejecting the revenue's affidavit contentions. Consequently the proposed reopening was unjustified and the reassessment notice was quashed in favour of the assessee. Case-Laws Income Tax Wed, 15 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259207