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2016 (6) TMI 1144 - AT - Income TaxValidity of reopening of assessment - Held that:- The reasons recorded in the case of the assessee that assessment has been reopened on the basis of some opinion received from ACIT, Central Circle-19 on the basis of survey operations conducted in the case of S.K. Gupta group. The basic requirement is that the Assessing Officer must apply his mind to the material in order to form reasons to believe that the income of the assessee has escaped assessment. Thus we hold the reopening of assessment in the case of the assessee under appeal before us to be invalid. Accordingly, the notice issued u/s 148 of the Act is quashed and the consequential assessment order passed in pursuance thereto is also quashed. - Decided in favour of assessee
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