https://www.taxtmi.com/caselaws?id=761641 ITAT Jaipur quashed section 147 reopening proceedings initiated by AO based on Sub Registrar information regarding unexplained property investment. The CIT's approval was deemed improper as it lacked independent satisfaction and verification. The tribunal found procedural irregularities where AO made additions without invoking specific legal provisions or informing the assessee under which section liability arose. CIT(A)'s order was also dismissed for wrongly applying Vivad Se Vishwas Scheme provisions. The tribunal held that without specifying applicable legal provisions, additions cannot be sustained as it violates natural justice principles. The appeal was allowed and all additions deleted. en-us Tue, 01 Oct 2024 00:00:00 +0530 Wed, 13 Nov 2024 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761641 ITAT Jaipur quashed section 147 reopening proceedings initiated by AO based on Sub Registrar information regarding unexplained property investment. The CIT's approval was deemed improper as it lacked independent satisfaction and verification. The tribunal found procedural irregularities where AO made additions without invoking specific legal provisions or informing the assessee under which section liability arose. CIT(A)'s order was also dismissed for wrongly applying Vivad Se Vishwas Scheme provisions. The tribunal held that without specifying applicable legal provisions, additions cannot be sustained as it violates natural justice principles. The appeal was allowed and all additions deleted. Case-Laws Income Tax Tue, 01 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761641