Reopening based on information received from Investigation Wing, without application of mind not sustainable

At the time of hearing before us, it is submitted by the learned DR that the Assessing Officer had received definite information from the Director of Income Tax (Investigation), New Delhi with regard to accommodation entries being provided by various entry operators. The assessee was the beneficiary of such accommodation entries. That during the course of investigation by the Investigation Wing, the so called creditors have accepted that they are only entry providers. That the Assessing Officer has reopened the assessment on the basis of specific information with regard to the accommod...