https://www.taxtmi.com/caselaws?id=763591 The ITAT Delhi quashed a reassessment order under section 147 due to jurisdictional defects. The AO's reasons to believe were based on FY 2013-14 for AY 2014-15, while the actual assessment year was AY 2012-13. The reasons were vague and non-descript, referencing information from search operations without specific details. The approval under section 151 was granted without proper application of mind. The tribunal held that vague reasons cannot support jurisdiction under section 147, making the notice under section 148 invalid. The reassessment order was declared bad in law and the assessee's appeal was allowed. en-us Fri, 20 Dec 2024 00:00:00 +0530 Mon, 23 Dec 2024 08:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763591 The ITAT Delhi quashed a reassessment order under section 147 due to jurisdictional defects. The AO's reasons to believe were based on FY 2013-14 for AY 2014-15, while the actual assessment year was AY 2012-13. The reasons were vague and non-descript, referencing information from search operations without specific details. The approval under section 151 was granted without proper application of mind. The tribunal held that vague reasons cannot support jurisdiction under section 147, making the notice under section 148 invalid. The reassessment order was declared bad in law and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763591