Reassessment alleging that assessee received bogus share capital invalid as there was no increase in share capital

INCOME TAX : Where reassessment notice was issued to assessee-company on ground that information was received from Investigation Wing that assessee-company had taken bogus share capital/share premium from accommodation entry providers, since there was no increase in share capital and share premium during year, formation of belief by AO that income had escaped assessment was irrational and unreasonable and consequently, notice issued for reassessment was to be quashed

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