Reassessment u/s 147 Quashed: AO's Uncertainty and Lack of Evidence Invalidates HSBC Account Transactions Case.

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....Validity of reopening of assessment u/s 147 - addition of transactions in HSBC Bank - AO is not sure whether income has to be assessed in the hands of assessee or his ex-wife. Next, he was not sure in which assessment year it has to be taxed, whether AY 2002-03 or 2003-04. In addition, he is not sure who is the exact owner of this bank account. - AO reopened the assessment merely on suspicion and surmise - Reassessment orders quashed - AT....