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2021 (5) TMI 660 - AT - Income TaxReopening of assessment u/s 147 - Addition u/s 68 - reassessment on basis of information received from REIC through Income Tax Officer, Ward 43(4), New Delhi - HELD THAT:- As relying on assessee's own case . [2021 (2) TMI 734 - ITAT DELHI] in absence of any contrary material brought to our notice, we hold that the Assessing Officer in the instant case has recorded incorrect/wrong and non-existing reasons in the reason for reopening of the assessment and has not applied his mind to the information received from REIC, Ward 43(4)(New Delhi). Therefore, the reopening of the assessment is illegal and bad in law and is liable to be quashed. Therefore, the additional grounds raised by the assessee are allowed.
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