https://www.taxtmi.com/caselaws?id=465015 ITAT Jaipur-AT allowed the assessee's appeals, quashing the reassessment u/s 147. It held that reopening based solely on Investigation Wing information, without independent material or proper reasons at the time of the original notice, was invalid. Further, notices u/s 148A and 148 and order u/s 148A(d) were issued by the Jurisdictional AO instead of the Faceless AO and in violation of s.151A requirements, rendering the notice u/s 148 (also issued without DIN) bad in law. On merits, additions u/s 69A treating recorded trading profits and alleged unexplained money, based only on third-party search documents without cross-examination, were deleted as unsustainable. en-us Thu, 28 Nov 2024 00:00:00 +0530 Mon, 01 Dec 2025 19:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465015 ITAT Jaipur-AT allowed the assessee's appeals, quashing the reassessment u/s 147. It held that reopening based solely on Investigation Wing information, without independent material or proper reasons at the time of the original notice, was invalid. Further, notices u/s 148A and 148 and order u/s 148A(d) were issued by the Jurisdictional AO instead of the Faceless AO and in violation of s.151A requirements, rendering the notice u/s 148 (also issued without DIN) bad in law. On merits, additions u/s 69A treating recorded trading profits and alleged unexplained money, based only on third-party search documents without cross-examination, were deleted as unsustainable. Case-Laws Income Tax Thu, 28 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465015