https://www.taxtmi.com/highlights?id=62375 Reopening of assessment u/s 147 - Unexplained loan transaction - If it emerges from the reasons recorded, which, in turn, are based on some cogent material, that the AO had prima facie reason to believe about income escaping assessment, the matter ends there insofar as the initiation of reassessment proceedings is concerned. No fault can be found with the jurisdiction of the AO to initiate reassessment. - no hesitation in countenancing the view of the ld. CIT(A) that the assessee received accommodation entry of loan - AT en-us Thu, 10 Mar 2022 17:05:36 +0530 Thu, 10 Mar 2022 17:05:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62375 Reopening of assessment u/s 147 - Unexplained loan transaction - If it emerges from the reasons recorded, which, in turn, are based on some cogent material, that the AO had prima facie reason to believe about income escaping assessment, the matter ends there insofar as the initiation of reassessment proceedings is concerned. No fault can be found with the jurisdiction of the AO to initiate reassessment. - no hesitation in countenancing the view of the ld. CIT(A) that the assessee received accommodation entry of loan - AT Highlights Income Tax Thu, 10 Mar 2022 17:05:36 +0530 https://www.taxtmi.com/highlights?id=62375