2019 (3) TMI 651

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....r for the Respondents   P.C.: 1. The petitioner has challenged a notice of reopening of assessment dated 28.3.2018 seeking to reopen the petitioner's assessment for the assessment year 2010-11. The Assessing Officer had supplied the reasons for reopening the assessment to the petitioner in which it was conveyed that the Assessing Officer had received information from the investigati....

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....any have been used for routing of unaccounted funds." Thus, it is seen that M/s. Ankur Power Project Pvt Ltd is one of the beneficiary of accommodation entries from Abhijet Sharma. The amount involved in the transaction is Rs. 3,04,98,000/- for AY 2011- 12." 2. The case of the petitioner is that the reasons proceeded on entirely incorrect factual basis, that the assessee had received a sum o....

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....zing the assessment. Without doing so, the Assessing Officer passed reassessment order on 3.12.2018. The petitioner has, therefore, challenged the very reassessment proceedings as well as the order passed pursuant to such notice. 4. As noted, the case of the petitioner is that the reasons proceeded on erroneous grounds and that such objection was taken in the communication dated 8.10.2018. Lear....

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....e notice of reopening of assessment. This recourse we adopt for the reason that the assessee had raised the ground of the reasons proceeding on incorrect factual premise, but the pointed objection as is elaborated before us now was not taken. If the assessee is correct in contending that the reasons proceeded on entirely erroneous footing and that even going by record, in case of the petitioner, i....