https://www.taxtmi.com/caselaws?id=765857 ITAT Kolkata allowed the assessee's appeal, quashing the assessment order on multiple grounds. The assessment was conducted without issuing mandatory notice u/s 143(2), making it bad in law as per SC precedent in Hotel Blue Moon case. The assessment order was cryptic, failing to discuss relevant transactions or correlate with books of account despite treating credits as unexplained income. The AO failed to decide objections filed by the assessee and provided no evidence of issuing required notice. The reopening of assessment was deemed bad in law, and additions were unsustainable on merits. en-us Fri, 07 Feb 2025 00:00:00 +0530 Tue, 11 Feb 2025 07:18:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765857 ITAT Kolkata allowed the assessee's appeal, quashing the assessment order on multiple grounds. The assessment was conducted without issuing mandatory notice u/s 143(2), making it bad in law as per SC precedent in Hotel Blue Moon case. The assessment order was cryptic, failing to discuss relevant transactions or correlate with books of account despite treating credits as unexplained income. The AO failed to decide objections filed by the assessee and provided no evidence of issuing required notice. The reopening of assessment was deemed bad in law, and additions were unsustainable on merits. Case-Laws Income Tax Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765857