https://www.taxtmi.com/caselaws?id=469407 Reassessment under sections 147 and 148 was upheld because the recorded reasons showed a live nexus with Investigation Wing information on accommodation entries, and the sufficiency of reasons at the reopening stage was accepted. The disallowance of interest expenditure was set aside because the assessment and appellate orders did not deal with the assessee's confirmations and other material, and the evidence was not examined in a reasoned manner before adverse findings were drawn on identity, creditworthiness and genuineness. The matter was remanded to the Assessing Officer for fresh adjudication after considering the material and giving adequate opportunity. en-us Wed, 05 Mar 2025 00:00:00 +0530 Tue, 16 Jun 2026 21:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469407 Reassessment under sections 147 and 148 was upheld because the recorded reasons showed a live nexus with Investigation Wing information on accommodation entries, and the sufficiency of reasons at the reopening stage was accepted. The disallowance of interest expenditure was set aside because the assessment and appellate orders did not deal with the assessee's confirmations and other material, and the evidence was not examined in a reasoned manner before adverse findings were drawn on identity, creditworthiness and genuineness. The matter was remanded to the Assessing Officer for fresh adjudication after considering the material and giving adequate opportunity. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469407