https://www.taxtmi.com/caselaws?id=779554 ITAT DELHI held that reopening of assessment was invalid where the sole foundation was a statement later retracted by a witness; the AO must record the retraction and show independent corroborative evidence before forming a prima facie opinion of escapement. The reasons for reopening in the appeals reviewed relied only on the retracted statement and failed this requirement, rendering the reopening vitiated. The Bench applied co-ordinate decisions reaching the same conclusion and allowed the assessee appeals. en-us Wed, 24 Sep 2025 00:00:00 +0530 Wed, 08 Oct 2025 08:45:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779554 ITAT DELHI held that reopening of assessment was invalid where the sole foundation was a statement later retracted by a witness; the AO must record the retraction and show independent corroborative evidence before forming a prima facie opinion of escapement. The reasons for reopening in the appeals reviewed relied only on the retracted statement and failed this requirement, rendering the reopening vitiated. The Bench applied co-ordinate decisions reaching the same conclusion and allowed the assessee appeals. Case-Laws Income Tax Wed, 24 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779554