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2016 (10) TMI 808 - ITAT DELHIReopening of assessment - validity of notice u/s 148 - income escaped assessment based on investigation wing information - Held that:- the reasons merely based on investigation wing information without surveillance of substantiation and without any statement being mentioned therein and without nature of transaction being narrated therein and without tangible material, and further without application of mind on amount of income escaping assessment, shows that the reopening is bad in law and needs to be quashed. - Decision in the case of Signature Hotels P. Ltd. vs. Income Tax Officer [2011 (7) TMI 361 - Delhi High Court] followed. - Decided in favor of assessee.
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