https://www.taxtmi.com/caselaws?id=759487 The ITAT Delhi quashed reassessment proceedings initiated under Section 147/148 for AY 2010-11. The court held that the AO's assumption of jurisdiction was invalid due to generalized, uncorroborated information and mechanical approval by PCIT under Section 151. The notice under Section 148 was issued on the last day showing compulsion to save limitation rather than proper application of mind. Multiple procedural defects including wrong financial year mention and incomplete documentation rendered the reopening proceedings without legal sanction. The reassessment was declared bad in law and the assessee's appeal was allowed. en-us Mon, 30 Sep 2024 00:00:00 +0530 Thu, 03 Oct 2024 07:50:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759487 The ITAT Delhi quashed reassessment proceedings initiated under Section 147/148 for AY 2010-11. The court held that the AO's assumption of jurisdiction was invalid due to generalized, uncorroborated information and mechanical approval by PCIT under Section 151. The notice under Section 148 was issued on the last day showing compulsion to save limitation rather than proper application of mind. Multiple procedural defects including wrong financial year mention and incomplete documentation rendered the reopening proceedings without legal sanction. The reassessment was declared bad in law and the assessee's appeal was allowed. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759487