https://www.taxtmi.com/highlights?id=58190 Reopening of assessment u/s 147 - the very basis of reopening of assessment is based on incomplete or wrong facts available on record as the said transaction of sale of the property has already been duly disclosed by the assessee in her return of income and the assessee had also filed her return of income. All these facts reflect non-application of mind by the A.O. while recording the reasons and it cannot be held that there is the nexus between the material available on record and formation of belief that the income has escaped assessment. - AT en-us Mon, 31 May 2021 16:39:48 +0530 Mon, 31 May 2021 16:39:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58190 Reopening of assessment u/s 147 - the very basis of reopening of assessment is based on incomplete or wrong facts available on record as the said transaction of sale of the property has already been duly disclosed by the assessee in her return of income and the assessee had also filed her return of income. All these facts reflect non-application of mind by the A.O. while recording the reasons and it cannot be held that there is the nexus between the material available on record and formation of belief that the income has escaped assessment. - AT Highlights Income Tax Mon, 31 May 2021 16:39:48 +0530 https://www.taxtmi.com/highlights?id=58190