Reassessment merely because AO didn’t carried independent enquiries of confirmation from creditors unsustainable

Ravi Sher Singh Toor Vs PCIT (ITAT Chandigarh) ITAT Chandigarh held that initiation of reassessment proceeding merely on the fact that AO has not carried out independent enquiries of confirmations from the creditors, without pointing out any deficiency or inaccuracy, cannot be a base to hold that order was erroneous in so far as prejudicial to the interest of revenue. Accordingly, reassessment unsustainable. Facts- The assessee is engaged in operating a Petrol Filling Station under the name and style of M/s Toor HP Centre and has filed his return of income, declaring a total income of Rs. 10,9...