Section 148 Reassessment Quashed for Section 148A Breach; Bogus Purchase Addition Deleted: Ahmedabad ITAT

Advertisement Gopallal Mathurdas Vaishnav Vs ITO (ITAT Ahmedabad) Section 148 Reassessment Quashed for Non-Compliance with Section 148A Procedure; Bogus Purchase Addition Deleted: ITAT Ahmedabad The ITAT Ahmedabad examined whether reassessment under the post-2021 framework was valid where the Assessing Officer relied on general information from the Investigation Wing without conducting the inquiry contemplated under Section 148A and whether purchases could be disallowed despite documentary evidence and accepted sales. The Tribunal held that Section 148A requires the Assessing Officer to ind...