https://www.taxtmi.com/caselaws?id=774384 The HC upheld the Tribunal's decision quashing the reassessment order passed under section 143(3) read with section 147. The AO had made additions based on alleged accommodation entries without proper justification. The Tribunal found that the AO failed to disclose specific details of money layering, provide documentary evidence, or establish the nature of the alleged accommodation entry transaction. The assessee had produced books of accounts and bank statements showing no transactions with the alleged accommodation provider. The HC noted the AO's reasons for reopening lacked rational connection to the assessee's case, as the assessee's name did not feature in the main body of reasons but only appeared as a beneficiary in inquiry details. No substantial question of law arose. en-us Tue, 01 Jul 2025 00:00:00 +0530 Tue, 08 Jul 2025 08:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774384 The HC upheld the Tribunal's decision quashing the reassessment order passed under section 143(3) read with section 147. The AO had made additions based on alleged accommodation entries without proper justification. The Tribunal found that the AO failed to disclose specific details of money layering, provide documentary evidence, or establish the nature of the alleged accommodation entry transaction. The assessee had produced books of accounts and bank statements showing no transactions with the alleged accommodation provider. The HC noted the AO's reasons for reopening lacked rational connection to the assessee's case, as the assessee's name did not feature in the main body of reasons but only appeared as a beneficiary in inquiry details. No substantial question of law arose. Case-Laws Income Tax Tue, 01 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774384