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Reopening on the basis of information received form investigation wing Valid
Case Law Details
- Case Name
- ITO, Ward 5 (2) Vs. M/s. Kautilya Monetary Services Pvt. Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2001- 02
- Courts
- All ITAT, ITAT Delhi
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In this case, the return of income was filed under section 139 (1) on 31.10.2001. The same was processed under section 143(1)(a) of the Income-tax Act. There was no scrutiny assessment under section 143(3) of the Income-tax Act. The reassessment proceedings u/s 147 was initiated by issuing notice u/s 148 on 28.03.2008 by recording the reasons. The reopening proceedings were initiation on the information received from Investigation Wing that assessee has received accommodation entries during the year. Thus, the Assessing Officer had considered the information received form investigation wing an...
