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| The Tax Publishers2019 TaxPub(DT) 8448 (Del-Trib) INCOME TAX ACT, 1961
Section 147
As apparent, AO in the reasons recorded fro reopening merely reproduced report of investigation wing. Accordingly, no further enquiry was made adn there was clear lack of application of mind on AO's part before recording reasons for reopening of the assessment and, therefore, initiation of reassessment proceedings was illegal and liable to be quashed.
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Reassessment - Reason to believe - AO merely reproduced report of investigation wing -
AO received information from investigation wing as to assessee having received accommodation entry from certain entry operaors. Accordingly, AO reopened assessment and made addition.Held: As apparent, AO in the reasons recorded fro reopening merely reproduced report of investigation wing. Accordingly, no further enquiry was made adn there was clear lack of application of mind on AO's part before recording reasons for reopening of the assessment and, therefore, initiation of reassessment proceedings was illegal and liable to be quashed.
Followed:Dy. CIT v. KLA Foods (India) Ltd. ITA No. 2846 (Del) of 2015 etc., dt. 8-4-2009 : 2019 TaxPub(DT) 2181 (Del-Trib).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2010-2011
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