https://www.taxtmi.com/caselaws?id=364733 The court quashed the reassessment notices for A.Y. 2008-09 and 2009-10 due to lack of specific details about undisclosed income from accommodation entries, rendering the notices unsustainable. Despite the AO's orders lacking reasoning, the court held that inadequate reasons cannot justify reassessment if material was already disclosed by the assessee. The vague nature of the notice, failing to provide essential details like identities of bogus creditors or entry operators and exact amounts involved, led to the decision in favor of the assessee, with all consequential proceedings being annulled. en-us Mon, 23 Jul 2018 00:00:00 +0530 Fri, 03 Aug 2018 08:36:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364733 The court quashed the reassessment notices for A.Y. 2008-09 and 2009-10 due to lack of specific details about undisclosed income from accommodation entries, rendering the notices unsustainable. Despite the AO's orders lacking reasoning, the court held that inadequate reasons cannot justify reassessment if material was already disclosed by the assessee. The vague nature of the notice, failing to provide essential details like identities of bogus creditors or entry operators and exact amounts involved, led to the decision in favor of the assessee, with all consequential proceedings being annulled. Case-Laws Income Tax Mon, 23 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364733