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2022 (8) TMI 1220 - AT - Income TaxValidity of Reopening of assessment u/s 147 - Sufficient reasons for reopening of assessment or not? - recourse to section 148/147 mechanism based on the contents of seized material(s) found in the course of the search issue - HELD THAT:- As relying on SANJAY SADASHIV NAVALE AND SUKHDEO NIVRUTTI NAVALE, [2022 (5) TMI 1442 - ITAT PUNE] we are of the considered view that the reasons recorded by the Assessing Officer, as set out earlier, were not sufficient reasons for reopening the assessment proceedings. We, therefore, quash the reassessment proceedings. - Decided in favour of assessee.
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