https://www.taxtmi.com/highlights?id=74664 Validity of Reopening of assessment - disallowance of expenditure being the inflated cost of fuels - information from the Directorate of Revenue Intelligence (DRI) relied upon - The Tribunal noted that, the basis for the reopening, a DRI show cause notice, was quashed by the competent authority/ CESTAT, making the reassessment unsustainable. The ITAT upheld the order of CIT(A) deleting the additions as the determination made by the AO in any case is un-sustainable being sans foundation/substantive material. en-us Tue, 06 Feb 2024 20:33:19 +0530 Tue, 06 Feb 2024 22:45:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74664 Validity of Reopening of assessment - disallowance of expenditure being the inflated cost of fuels - information from the Directorate of Revenue Intelligence (DRI) relied upon - The Tribunal noted that, the basis for the reopening, a DRI show cause notice, was quashed by the competent authority/ CESTAT, making the reassessment unsustainable. The ITAT upheld the order of CIT(A) deleting the additions as the determination made by the AO in any case is un-sustainable being sans foundation/substantive material. Highlights Income Tax Tue, 06 Feb 2024 20:33:19 +0530 https://www.taxtmi.com/highlights?id=74664