https://www.taxtmi.com/caselaws?id=445817 Delhi HC quashed reassessment notice u/s 148 issued to assessee. AO attempted reassessment by merely comparing balance sheet figures between assessment years without proper inquiry. Notice dated 20.03.2018 seeking information could not reach assessee due to incomplete address. AO lacked tangible material including shareholder list and failed to furnish supporting documents from ITO and ADIT. Court held AO did not have sufficient material to form belief that income escaped assessment, relying only on suspicion and conjecture rather than concrete evidence. en-us Fri, 17 Nov 2023 00:00:00 +0530 Fri, 01 Mar 2024 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445817 Delhi HC quashed reassessment notice u/s 148 issued to assessee. AO attempted reassessment by merely comparing balance sheet figures between assessment years without proper inquiry. Notice dated 20.03.2018 seeking information could not reach assessee due to incomplete address. AO lacked tangible material including shareholder list and failed to furnish supporting documents from ITO and ADIT. Court held AO did not have sufficient material to form belief that income escaped assessment, relying only on suspicion and conjecture rather than concrete evidence. Case-Laws Income Tax Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445817