2023 (6) TMI 1045 - SCH - Income Tax

Reopening of assessment u/s 147 - accommodation entries entry transactions - as decided by HC in light of the information which forms the basis of the initiation of the inquiry and in view of the fact that the transactions with Mridul Securities are admitted by the Petitioners, we do not find any case for interfering in the writ proceedings - Petitioners have not brought on record anything to suggest that the reassessment proceedings are being undertaken in an arbitrary manner - HELD THAT - We are not inclined to interfere with the impugned judgment and hence, the special leave petitions are dismissed. Pending application(s), if any, shall stand disposed of.