https://www.taxtmi.com/caselaws?id=761193 Delhi HC held that reassessment proceedings were validly initiated against the assessee who purchased 4800 shares of a listed company worth Rs.56,04,000 through off-market transactions. The AO had comprehensive evidence showing accommodation entries were routed through share transactions of twelve listed companies. The assessee's investment was disproportionate to declared income over three assessment years and she failed to provide transaction details including purchase price, fund source, and dates despite being given opportunity. The court found sufficient material to establish income had escaped assessment, justifying the Section 148 notice. en-us Tue, 22 Oct 2024 00:00:00 +0530 Wed, 06 Nov 2024 08:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761193 Delhi HC held that reassessment proceedings were validly initiated against the assessee who purchased 4800 shares of a listed company worth Rs.56,04,000 through off-market transactions. The AO had comprehensive evidence showing accommodation entries were routed through share transactions of twelve listed companies. The assessee's investment was disproportionate to declared income over three assessment years and she failed to provide transaction details including purchase price, fund source, and dates despite being given opportunity. The court found sufficient material to establish income had escaped assessment, justifying the Section 148 notice. Case-Laws Income Tax Tue, 22 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761193