Fore initiation of Reassessment AO need not conduct inquiry & nor required to verify information, only nexus between Information & Belief required

ITAT DELHI BENCH ‘B’ Income-tax Officer Versus Contel Medicare Systems (P.) Ltd. IT APPEAL NO. 3642 (DELHI) OF 2011 [ASSESSMENT YEAR 2001-02] OCTOBER  31, 2011 ORDER K.D. Ranjan, Accountant Member  This appeal by the Revenue for the assessment year 2001-02 arises out of the order of the learned Commissioner of Income-tax (Appeals)-IV, New Delhi. 2. The ground of appeal raised by the Revenue reads as follows : “The learned Commissioner of Income-tax (Appeals) has erred on the facts and in law in invalidating notice issued under section 148 of the Income-t...