Reassessment merely based on information received from investigation wing is bad in law

AmritBrakewell Products Vs ITO (ITAT Delhi) ITAT Delhi held that reopening of assessment proceedings merely on the basis of information received from the investigation wing is invalid and bad in law and hence liable to be quashed. Facts- Vide the present appeal, the appellant mainly contested that learned CIT(A) has erred both in facts and in law in upholding the reassessment proceedings as there is no live nexus between the reasons recorded and belief formed by AO. Conclusion- In view of the above, I have no hesitation to hold that from the reasons recorded I am unable to see any exercise don...