Section 263 Jurisdiction cannot be assumed by Pr. CIT for making roving enquiries

Arihant Technology Pvt. Ltd. Vs Pr. CIT (ITAT Delhi) We find the AO in the instant case has reopened the assessment on the basis of the information received from the Investigation Wing that assessee has received accommodation entry of Rs. 40 lacs from M/s. Sri Amarnath Finance Pvt. Ltd., a company controlled by Sh. Surinder Kumar Jain and Sh. Virender Kumar Jain who are known entry operators. We find the AO during the course of assessment proceedings has called for information from the assessee who filed the requisite documents such as the ITR, bank statement, PAN number, confirmation etc. of ...