https://www.taxtmi.com/caselaws?id=771761 The ITAT Delhi quashed the reassessment proceedings initiated under section 147. The AO incorrectly stated the original assessment was completed under section 143(1) instead of 143(3), leading to approval under section 151 based on wrong facts. Both the AO and PCIT granted approval mechanically without verifying basic facts. Since reopening occurred beyond four years without proper disclosure requirements being met, and following precedent from NC Cables Ltd case, the tribunal ruled the reassessment invalid and decided in favor of the assessee. en-us Wed, 07 May 2025 00:00:00 +0530 Fri, 30 May 2025 08:55:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771761 The ITAT Delhi quashed the reassessment proceedings initiated under section 147. The AO incorrectly stated the original assessment was completed under section 143(1) instead of 143(3), leading to approval under section 151 based on wrong facts. Both the AO and PCIT granted approval mechanically without verifying basic facts. Since reopening occurred beyond four years without proper disclosure requirements being met, and following precedent from NC Cables Ltd case, the tribunal ruled the reassessment invalid and decided in favor of the assessee. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771761