Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Reopening of assessment - The High Court held that no case for reason to believe was made out by the AO. They observed a lack of application of mind in the reasons recorded for reopening the assessment. It was noted that the information relied upon by the AO contained inaccuracies, indicating a non-application of mind. - The Court found that the AO did not address the factual positions asserted by the petitioner in their objections, further indicating a lack of proper consideration. - Ultimately, the Court concluded that the reassessment proceedings were initiated on incorrect facts and lacked jurisdiction, thus quashing the impugned notices and order.
Reopening of assessment - The High Court held that no case for reason to believe was made out by the AO. They observed a lack of application of mind in the reasons recorded for reopening the assessment. It was noted that the information relied upon by the AO contained inaccuracies, indicating a non-application of mind. - The Court found that the AO did not address the factual positions asserted by the petitioner in their objections, further indicating a lack of proper consideration. - Ultimately, the Court concluded that the reassessment proceedings were initiated on incorrect facts and lacked jurisdiction, thus quashing the impugned notices and order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
