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No reassessment on basis of info of DDIT (Investigation) that creditworthiness of lender not explained: HC

June 12, 2018[2018] 94 29 (Bombay)

IT : Reopening of assessment relying only upon information received from DDIT, that assessee had issued debentures to a shell company and creditworthiness of lender and genuineness as well as nature of transaction was not explained, was not justified when Assessing Officer had not independently applied his mind to such information

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