https://www.taxtmi.com/caselaws?id=768242 ITAT Kolkata quashed the reopening of assessment u/s 147 r.w.s. 148, finding the AO failed to apply independent mind to received information. The reasons recorded were vague, conflicting, and lacked transaction details including dates, parties, and payment modes. The AO mechanically reopened the case without proper analysis of Rs.95,62,800 alleged escaped income. Additionally, PCIT's approval was deemed mechanical and invalid as it lacked recorded reasons for satisfaction. The tribunal held such defective reopening procedure violated legal requirements and allowed the assessee's appeal. en-us Tue, 01 Apr 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768242 ITAT Kolkata quashed the reopening of assessment u/s 147 r.w.s. 148, finding the AO failed to apply independent mind to received information. The reasons recorded were vague, conflicting, and lacked transaction details including dates, parties, and payment modes. The AO mechanically reopened the case without proper analysis of Rs.95,62,800 alleged escaped income. Additionally, PCIT's approval was deemed mechanical and invalid as it lacked recorded reasons for satisfaction. The tribunal held such defective reopening procedure violated legal requirements and allowed the assessee's appeal. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768242