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2014 (8) TMI 1233 - AT - Income TaxReopening of assessment u/s 147 - Reason to believe - HELD THAT:- As decided in [2014 (1) TMI 1928 - ITAT HYDERABAD] it is the duty of the assessing officer to record valid reasons for reopening of the assessments as otherwise re-opening becomes bad in law since there is no live link/nexus between the reasons recorded and the formation of a belief in order to invoke the provisions concerning escapement of income - facts and circumstances in the group of cases posted now are mutatis mutandis identical since the statement of Shri Raju does not indicate anything about the present companies and no further investigation was made by the assessing officer before issuance of notice u/s 148 of the Act and thus the re-opening of assessments is bad in law. Decided in favour of assessee.
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