Assessment Reopening Challenged: Lack of Evidence Leads to Deletion of Addition u/s 148; Assessee's Appeal Allowed.

Assessment Reopening Challenged: Lack of Evidence Leads to Deletion of Addition u/s 148; Assessee's Appeal Allowed. https://www.taxtmi.com/highlights?id=58401 Reopening assessment u/s. 148 - incomplete information and unconcluded proceedings - even on merits, the case of the Revenue has no legs to stand in absence of any material in support of any revaluation/enhancement in value of the property by the stamp duty authority and the addition so made is hereby directed to be deleted. Appeal of the assessee is allowed. - AT en-us Thu, 17 Jun 2021 15:53:02 +0530 Thu, 17 Jun 2021 15:53:02 +0530 TaxTMI RSS Generator Assessment Reopening Challenged: Lack of Evidence Leads to Deletion of Addition u/s 148; Assessee's Appeal Allowed. https://www.taxtmi.com/highlights?id=58401 Reopening assessment u/s. 148 - incomplete information and unconcluded proceedings - even on merits, the case of the Revenue has no legs to stand in absence of any material in support of any revaluation/enhancement in value of the property by the stamp duty authority and the addition so made is hereby directed to be deleted. Appeal of the assessee is allowed. - AT Highlights Income Tax Thu, 17 Jun 2021 15:53:02 +0530 https://www.taxtmi.com/highlights?id=58401