https://www.taxtmi.com/caselaws?id=264748 Delhi HC held that AO cannot reopen assessment under Section 147/148 without proper application of mind. Despite receiving information about accommodation entries from Investigation Wing, AO failed to examine whether transactions were already scrutinized in initial assessment. Court found AO reopened assessment on same material without confronting assessee with new evidence. Assessee had provided adequate documentation including agreements, confirmations, and bank statements during original proceedings, proving transactions were genuine. Since funds were already returned through banking channels and properly documented, no addition under Section 68 was warranted. Assessment order quashed in favor of assessee. en-us Tue, 22 Sep 2015 00:00:00 +0530 Wed, 04 Jun 2025 14:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264748 Delhi HC held that AO cannot reopen assessment under Section 147/148 without proper application of mind. Despite receiving information about accommodation entries from Investigation Wing, AO failed to examine whether transactions were already scrutinized in initial assessment. Court found AO reopened assessment on same material without confronting assessee with new evidence. Assessee had provided adequate documentation including agreements, confirmations, and bank statements during original proceedings, proving transactions were genuine. Since funds were already returned through banking channels and properly documented, no addition under Section 68 was warranted. Assessment order quashed in favor of assessee. Case-Laws Income Tax Tue, 22 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264748