https://www.taxtmi.com/caselaws?id=777725 ITAT MUMBAI - AT held the reassessment under s.148 invalid because the assessee complied with AO's notices and there was no prima facie suppression of facts warranting reopening. Consequently the consequent revisionary order under s.263 was held without jurisdiction and set aside, and the assessee's appeal was allowed. The Tribunal found no justification for treating the unexplained expenditure as a bogus transaction or for levying interest under s.234A for the claimed period, given the absence of grounds to sustain reassessment. en-us Mon, 13 Jan 2025 00:00:00 +0530 Thu, 04 Sep 2025 08:40:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777725 ITAT MUMBAI - AT held the reassessment under s.148 invalid because the assessee complied with AO's notices and there was no prima facie suppression of facts warranting reopening. Consequently the consequent revisionary order under s.263 was held without jurisdiction and set aside, and the assessee's appeal was allowed. The Tribunal found no justification for treating the unexplained expenditure as a bogus transaction or for levying interest under s.234A for the claimed period, given the absence of grounds to sustain reassessment. Case-Laws Income Tax Mon, 13 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777725