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Delhi ITAT Quashes Reassessment for ‘Reason to Suspect’ – Cash Deposits Alone Can’t Justify Reopening
Case Law Details
- Case Name
- Ravi Chopra Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2023-24
- Courts
- All ITAT, ITAT Delhi
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Ravi Chopra Vs ITO (ITAT Delhi)
Delhi ITAT Quashes Reassessment for ‘Reason to Suspect’ – Cash Deposits Alone Can’t Justify Reopening
The Delhi ITAT quashed a reassessment initiated merely on the basis of large cash deposits and information received from the Investigation Wing, holding that the Assessing Officer had only a “reason to suspect” and not a legally sustainable “reason to believe” that income had escaped assessment. The Tribunal observed that the AO himself recorded that there were “high chances” of escapement of income requiring scrutiny, wh...
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