Assessment Reopened for Alleged Accommodation Entries; Court Orders Reconsideration and Reasoned Decision.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Reopening of assessment - as alleged Petitioner was a beneficiary of accommodation entries - Notices under Section 148A(b) were issued, alleging escaped income, followed by a subsequent notice clarifying errors. - Petitioner's response, supported by evidence, was rejected for failure to submit documents not initially requested. - The High Court quashed the rejection order and remanded the matter for reconsideration. The assessing officer was directed to provide a reasoned decision and justify the rejection of petitioner's evidence.....