Reopening on Mere Suspicion and Vague Copy-Paste Reasons Held Invalid

Abdul Hamid Abdul Majid Nathani Vs ACIT (ITAT Mumbai) Reopening Based Only on Suspicion Held Invalid; ITAT Mumbai Quashes Entire 147 Assessment Assessee filed his return for AY 2012-13 declaring ₹26.50 lakh, which was processed u/s 143(1). Based solely on information from Investigation Wing alleging that ₹27.44 crore moved through bank accounts of the Supariwala family & might have been transferred to Assessee, AO reopened assessment u/s 147 by issuing notice u/s 148 on 28.03.2019. Reasons recorded merely reproduced the Investigation Wing letter & asserted that Assessee failed to d...