https://www.taxtmi.com/caselaws?id=339683 ITAT (Mumbai) held that the reassessment initiated u/s 147, based on information alleging accommodation entries through a paper company, was procedurally flawed. The AO relied on a third-party statement asserting that the assessee's transactions were accommodation entries but neither furnished the statement to the assessee nor permitted cross-examination. Further, the AO failed to dispose of the assessee's objections to the recorded reasons for reopening. As the Revenue could not rebut these procedural lapses, ITAT set aside the reassessment proceedings on the issue of reopening and remanded the matter to the AO for de novo adjudication in accordance with law. en-us Fri, 24 Feb 2017 00:00:00 +0530 Thu, 11 Dec 2025 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339683 ITAT (Mumbai) held that the reassessment initiated u/s 147, based on information alleging accommodation entries through a paper company, was procedurally flawed. The AO relied on a third-party statement asserting that the assessee's transactions were accommodation entries but neither furnished the statement to the assessee nor permitted cross-examination. Further, the AO failed to dispose of the assessee's objections to the recorded reasons for reopening. As the Revenue could not rebut these procedural lapses, ITAT set aside the reassessment proceedings on the issue of reopening and remanded the matter to the AO for de novo adjudication in accordance with law. Case-Laws Income Tax Fri, 24 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339683