https://www.taxtmi.com/caselaws?id=463784 ITAT, Delhi (AT) quashed reassessment proceedings under s. 143(3) read with s. 147, holding that the AO failed to apply his mind when recording reasons for reopening. The tribunal found factual inconsistencies between the reasons and the bank statement, lack of cross-verification and that reopening was based on mere suspicion of escaped income. Reassessment was therefore invalid and decided in favour of the assessee. en-us Tue, 04 Jun 2024 00:00:00 +0530 Mon, 15 Sep 2025 14:14:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463784 ITAT, Delhi (AT) quashed reassessment proceedings under s. 143(3) read with s. 147, holding that the AO failed to apply his mind when recording reasons for reopening. The tribunal found factual inconsistencies between the reasons and the bank statement, lack of cross-verification and that reopening was based on mere suspicion of escaped income. Reassessment was therefore invalid and decided in favour of the assessee. Case-Laws Income Tax Tue, 04 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463784