https://www.taxtmi.com/caselaws?id=31361 The Delhi HC upheld the Tribunal's decision that the AO was not justified in reopening assessments for three years. The Tribunal found that recorded reasons failed to demonstrate evidence of income escapement regarding unaccounted expenditure on premises renovation and unexplained credits under section 68. The court concluded that the AO lacked sufficient "reason to believe" for reopening the assessments, making the Tribunal's order completely justified in preventing the reassessment proceedings. en-us Mon, 20 Oct 2008 00:00:00 +0530 Wed, 14 May 2025 14:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31361 The Delhi HC upheld the Tribunal's decision that the AO was not justified in reopening assessments for three years. The Tribunal found that recorded reasons failed to demonstrate evidence of income escapement regarding unaccounted expenditure on premises renovation and unexplained credits under section 68. The court concluded that the AO lacked sufficient "reason to believe" for reopening the assessments, making the Tribunal's order completely justified in preventing the reassessment proceedings. Case-Laws Income Tax Mon, 20 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31361