Reopening of Assessment permissible in case of Accommodation Entries without physical transportation of goods

Last updated: 27 August 2021
Quick Summary
The Gujarat High Court has ruled that reopening an assessment is permissible even if there was no physical transportation of goods, provided accommodation entries were used. The court found that the petitioner had escaped assessment on commission earned from these entries, which were not disclosed. The investigation substantiated the Income Tax Officer's belief that income had escaped assessment, justifying the reopening.

Court :
Gujarat High Court

Brief :
In Geetaben Dineshchandra Gupta v. Income Tax Officer Circle 3(3)(2) [R/Special Civil Application No. 18325 of 2019 dated August 23, 2021], Geetaben Dinesh chandra Gupta ('the Petitioner') has filed the current petition challenging the notice dated March 23, 2019 which proposed the reopening of assessment of the Petitioner under Section 148 of the Income Tax Act, 1961 ('the IT Act').

Citation :
R/Special Civil Application No. 18325 of 2019 dated August 23, 2021

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Bimal Jain
Published in Income Tax
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