https://www.taxtmi.com/caselaws?id=793277 Reassessment under section 147 is sustainable where the Assessing Officer relies on tangible material from the Investigation Wing, applies independent mind to the material, records reasons and obtains sanction under section 151; the text states that such reopening was not a mere change of opinion. Additions under sections 68 and 69C are justified where the assessee fails to prove the identity, creditworthiness and genuineness of investors and the record links the transactions to accommodation entries, with consequential commission expenditure also being sustained. No violation of natural justice arises where multiple opportunities are granted and objections are dealt with by a speaking order. en-us Tue, 19 May 2026 00:00:00 +0530 Fri, 12 Jun 2026 08:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793277 Reassessment under section 147 is sustainable where the Assessing Officer relies on tangible material from the Investigation Wing, applies independent mind to the material, records reasons and obtains sanction under section 151; the text states that such reopening was not a mere change of opinion. Additions under sections 68 and 69C are justified where the assessee fails to prove the identity, creditworthiness and genuineness of investors and the record links the transactions to accommodation entries, with consequential commission expenditure also being sustained. No violation of natural justice arises where multiple opportunities are granted and objections are dealt with by a speaking order. Case-Laws Income Tax Tue, 19 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793277