2026 (4) TMI 1378

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.... CIT-DR PER KHETTRA MOHAN ROY, AM: This appeal filed by the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi, dated 25/01/2025 passed under section 250 of the Income Tax Act, 1961 (for short, "Act"), which is arising out of assessment order passed u/s. 147 r.w.s. 144 r.w.s. 144B of the Act, dated 11.03.2022 for the Assessment Year 2014-15. 2. ....

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....explanation etc. The additional evidence filed by the assessee was forwarded to the Ld. AO for his remand report. Ld. AO did not object to admission of additional evidence, but stated that the purpose of documents was unclear. Ld. CIT(A) after considering the submissions and documents field, confirmed the addition made by the Ld. AO mainly on the ground of failure to discharge onus as the assessee....

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....re of transactions, examining the source of funds. Additional evidence filed by the assessee clearly explain the sources of deposits in bank account. He further submitted that Ld. AO in his remand report did not dispute the authenticity of documents and not conducted further enquiry and simply stated lack of clarity. Ld. CIT(A) confirmed the addition without proper appreciation of evidence, and fa....

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....ire verification. It is settled law that reopening cannot be made for verification purposes and it must be based on reason to believe, not reason to suspect. We further observe that reopening is mere 'change of opinion', which is not sustainable in law. The Hon'ble Supreme Court in the case of CIT vs. Kelvinator of India [2010] 320 ITR 561 (SC) wherein it has been held that "reopening of asses....