https://www.taxtmi.com/highlights?id=57155 Reopening of assessment u/s 147 - Mere intimation received from any authority cannot lead to immediate presumption but it needs to be verified by the AO and to apply his mind. Here in this case, even the documents pertaining to Custom & Central Excise Authorities was not available with the AO at the time of initiation of proceedings which fact has been surfaced before us. Thus, we hold that the reasons recorded by the AO do not give jurisdiction to reopen the assessment u/s 147 read with section 148. - AT en-us Sun, 14 Mar 2021 11:57:50 +0530 Sun, 14 Mar 2021 11:57:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57155 Reopening of assessment u/s 147 - Mere intimation received from any authority cannot lead to immediate presumption but it needs to be verified by the AO and to apply his mind. Here in this case, even the documents pertaining to Custom & Central Excise Authorities was not available with the AO at the time of initiation of proceedings which fact has been surfaced before us. Thus, we hold that the reasons recorded by the AO do not give jurisdiction to reopen the assessment u/s 147 read with section 148. - AT Highlights Income Tax Sun, 14 Mar 2021 11:57:50 +0530 https://www.taxtmi.com/highlights?id=57155