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2020 (1) TMI 1358 - AT - Income TaxValidity of re-assessment proceedings - Eligibility of reasons recorded - non supply of reasons to assessee - eligibility of approval granted by ACIT - addition u/s 68 - HELD THAT:- Addl. CIT while granting or forwarding copy of the reasons to the Pr. CIT for his approval did not mention any fact in the proforma which is blank and no remarks have been mentioned by him despite his signature appeared thereon. The Pr. CIT while granting sanction/approval to reasons recorded for reopening of the assessment has simply mentioned “Yes, I am satisfied”. Such type of approval was not found valid in many cases. The ITAT Delhi C-Bench in the case of M/s. Ganesh Ganga Investments Pvt. Ltd [2019 (11) TMI 862 - ITAT DELHI] quashed the reopening of the assessment in the similar circumstances. All the documents and Annexures referred to in the reasons have not been supplied to the assessee and that approval granted by Pr. CIT is invalid. Therefore, reopening of the assessment is wholly invalid and void abinitio. Resultantly, the reopening of the assessment is liable to be quashed. Following the reasons for decision in the case of M/s. Ganesh Ganga Investments Pvt. Ltd.[supra] we set aside the Orders of the authorities below and quash the reopening of the assessment. In the result, all the additions stand deleted. - Decided in favour of assessee.
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