https://www.taxtmi.com/highlights?id=78449 The High Court considered the reopening of assessment u/s 147 due to accommodation entries from M/s Metal Impex, a shell entity for high-value transactions. Respondents relied on bank statements linking petitioner to Metal Impex for accommodation entries, leading to suspicion of escaped income. Petitioner requested Suspicious Transaction Report but did not deny transactions or provide relevant material. Court found no grounds for interference u/s Article 226 and dismissed the writ petition. en-us Thu, 13 Jun 2024 08:11:15 +0530 Thu, 13 Jun 2024 08:11:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78449 The High Court considered the reopening of assessment u/s 147 due to accommodation entries from M/s Metal Impex, a shell entity for high-value transactions. Respondents relied on bank statements linking petitioner to Metal Impex for accommodation entries, leading to suspicion of escaped income. Petitioner requested Suspicious Transaction Report but did not deny transactions or provide relevant material. Court found no grounds for interference u/s Article 226 and dismissed the writ petition. Highlights Income Tax Thu, 13 Jun 2024 08:11:15 +0530 https://www.taxtmi.com/highlights?id=78449