Initiation of reassessment proceedings u/s 148 for verification of claim is unsustainable

Salarpuria Properties Pvt Vs DCIT (ITAT Kolkata) ITAT Kolkata held that initiation of reassessment proceeding under section 148 of the Income Tax Act for the purpose of mere verification of the claim is unsustainable in law. Facts- Vide the present appeal, the appellant has challenged the order passed by the CIT (Appeals) contested that CIT(Appeals) has erred in confirming the reassessment order passed by the assessing officer under section 148 of the Income Tax Act. Conclusion- Held that we unhesitatingly allow the cross objection of the assessee in respect of legality of the reassessment pro...