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TMI Blog2015 (11) TMI 1621X X X X Extracts X X X X X X X X Extracts X X X X ..... sment. The basic requirement of Section 147 of the Act that AO should apply an mind in order to form reasons to believe that income had escaped assessment had not been fulfilled.The ITAT was, in the circumstances, justified in holding the initiation of the reassessment proceedings was invalid. - Decided in favour of assessee - ITA No. 108/2015 - - - Dated:- 19-11-2015 - S. MURALIDHAR AND VIBHU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd February, 2005. On 20th March, 2007, a notice was issued to the Assessee under Section 148 of the Act communicating the reason to believe that income had escaped assessment. It was informed by the Director of Income Tax (Investigation) by a letter dated 16th June, 2006 that the above named company was involved in giving and taking accommodation entries/transactions during AY 2003-04. It was f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is that the Assessee had earned commission on such accommodation entries. After the Commissioner of Income Tax (Appeals) affirmed the order of the AO, the Assessee appealed to the ITAT. 5. The ITAT noticed in the impugned order that it had in the case of another Assessee, that had been issued an identically worded notice of reopening of assessment by the same AO, held the reassessment proceedin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cases in Jurisdiction Company Circle 11 (1) passed identical orders for reopening assessment under Section 147/148 of the Act, relying on the same letter dated 16th June, 2006 of the Director of Income Tax (Investigation) although it pertained to different financial years. For instance, an identically worded order of reopening of the assessment was issued in the case of India Terminal Connector Sy ..... X X X X Extracts X X X X X X X X Extracts X X X X
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