Reopening after enquiries valid if Assessee is beneficiary of accommodation entries

Bharatkumar Kalubhai Ghadiya Vs ACIT (Gujarat High Court)

In the case on hand also, the Assessing Officer has reason to believe that the petitioner is a beneficiary of accommodation entry and basis for formation of such belief is several inquiries and the investigation by the Investigation Wing, Ahmedabad and report thereof. The reasons for the formation of the belief by the Assessing Officer in the instant case, appear to have a rational connection with or relevant bearing on the formation of belief that there has been esca

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