https://www.taxtmi.com/caselaws?id=409665 Reassessment under sections 147 and 148 was treated as invalid because the Assessing Officer acted only on Investigation Wing information about alleged accommodation entries. The recorded reasons did not show any independent verification of the material or any separate formation of belief on the basis of facts available with the Assessing Officer. Reopening based on borrowed satisfaction, without independent application of mind, was therefore impermissible and the reassessment proceedings were held illegal and void. en-us Wed, 07 Jul 2021 00:00:00 +0530 Wed, 14 Jul 2021 06:27:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409665 Reassessment under sections 147 and 148 was treated as invalid because the Assessing Officer acted only on Investigation Wing information about alleged accommodation entries. The recorded reasons did not show any independent verification of the material or any separate formation of belief on the basis of facts available with the Assessing Officer. Reopening based on borrowed satisfaction, without independent application of mind, was therefore impermissible and the reassessment proceedings were held illegal and void. Case-Laws Income Tax Wed, 07 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409665