Bogus accommodation entry | Vague reasons not justify reopening

Suraj Pulses Pvt. Ltd. Vs PCIT (ITAT Delhi) We find that as far as the reasons recorded, though there is a specific mention about amount of 20,50,000/- received by way of accommodation entry, however neither there is any mention from whom the assessee had received the amount nor what is the nature of the entry nor whether it is in cash or cheque. In fact, it is  not discernible as to what is the nature of transaction. What is mentioned is that assessee was found to be beneficiary of amount of Rs.20,50,000/- which is in the nature of bogus accommodation entry. The ld. DR has submitted that the...