https://www.taxtmi.com/caselaws?id=328149 Reassessment under sections 147 and 148 was held invalid where the Assessing Officer relied only on Investigation Wing information about accommodation entries and did not independently examine the material or form his own reason to believe that income had escaped assessment. The recorded reasons showed no meaningful verification or prima facie analysis linking the material to the assessee, so the notice under section 148 lacked jurisdiction. The reassessment was therefore void ab initio and the Revenue's challenge failed. en-us Fri, 22 Apr 2016 00:00:00 +0530 Fri, 27 May 2016 10:11:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328149 Reassessment under sections 147 and 148 was held invalid where the Assessing Officer relied only on Investigation Wing information about accommodation entries and did not independently examine the material or form his own reason to believe that income had escaped assessment. The recorded reasons showed no meaningful verification or prima facie analysis linking the material to the assessee, so the notice under section 148 lacked jurisdiction. The reassessment was therefore void ab initio and the Revenue's challenge failed. Case-Laws Income Tax Fri, 22 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328149