AO cannot reopen assessment in absence of any tangible material showing income escapement

Sikandar And Company Vs ITO (ITAT Pune) AO has to power to reopen, provided there is tangible material to come to the conclusion that there is escapement of income from other assessment. Further, there must be reasons recorded showing live link with the formation of the belief that there is escapement of income from assessment. In the present case, I find no such tangible material came to the knowledge of AO which resulted in a conclusion that there is a escapement of income from original assessment. Further, I find no live link with the formation of such belief that there is a escapement of i...