https://www.taxtmi.com/caselaws?id=325787 The court dismissed the petition challenging the notice issued under Section 148 of the Income Tax Act, 1961, as it found the Assessing Officer had reasonable grounds to believe that income had escaped assessment based on information regarding accommodation entries. The court emphasized that the Assessing Officer did not need conclusive proof at the reopening stage and granted the petitioner the chance to prove the loans' genuineness during reassessment. The petitioner's objections were rejected, and the court allowed a continuation of the ad-interim stay for four weeks. en-us Mon, 14 Mar 2016 00:00:00 +0530 Tue, 16 Jun 2026 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325787 The court dismissed the petition challenging the notice issued under Section 148 of the Income Tax Act, 1961, as it found the Assessing Officer had reasonable grounds to believe that income had escaped assessment based on information regarding accommodation entries. The court emphasized that the Assessing Officer did not need conclusive proof at the reopening stage and granted the petitioner the chance to prove the loans' genuineness during reassessment. The petitioner's objections were rejected, and the court allowed a continuation of the ad-interim stay for four weeks. Case-Laws Income Tax Mon, 14 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325787