https://www.taxtmi.com/caselaws?id=774679 The ITAT Delhi quashed reassessment proceedings initiated under section 148 against an individual proprietor. The AO reopened assessment based solely on suspicion linking the assessee to a CA involved in money laundering cases, without establishing any cogent material connecting the assessee to the alleged transactions. The tribunal found the AO conducted a roving enquiry without proper reasons backed by material evidence. Additionally, the AO failed to dispose of preliminary objections separately before proceeding with reassessment. The appeal was allowed, holding the reassessment proceedings invalid for lack of proper foundation and procedural compliance. en-us Fri, 27 Jun 2025 00:00:00 +0530 Sat, 12 Jul 2025 08:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774679 The ITAT Delhi quashed reassessment proceedings initiated under section 148 against an individual proprietor. The AO reopened assessment based solely on suspicion linking the assessee to a CA involved in money laundering cases, without establishing any cogent material connecting the assessee to the alleged transactions. The tribunal found the AO conducted a roving enquiry without proper reasons backed by material evidence. Additionally, the AO failed to dispose of preliminary objections separately before proceeding with reassessment. The appeal was allowed, holding the reassessment proceedings invalid for lack of proper foundation and procedural compliance. Case-Laws Income Tax Fri, 27 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774679