https://www.taxtmi.com/caselaws?id=777861 ITAT KOLKATA - AT allowed the appeal, holding that the AO exceeded jurisdiction in making reassessment additions for sale of shares that were not specified in the reasons recorded under s.148. Because the AO did not add the escaped income that formed the basis for reopening, he could not independently assess a different income item discovered later during reassessment. The reasons recorded were also found to be scanty and vague, so the reassessment addition was set aside. en-us Wed, 15 Jan 2025 00:00:00 +0530 Sat, 06 Sep 2025 08:16:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777861 ITAT KOLKATA - AT allowed the appeal, holding that the AO exceeded jurisdiction in making reassessment additions for sale of shares that were not specified in the reasons recorded under s.148. Because the AO did not add the escaped income that formed the basis for reopening, he could not independently assess a different income item discovered later during reassessment. The reasons recorded were also found to be scanty and vague, so the reassessment addition was set aside. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777861