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Reassessment was quashed on cash deposits due to AO’s vague reasoning and non-application of mind
Case Law Details
- Case Name
- Raghubir Singh Punia Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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Raghubir Singh Punia Vs ITO (ITAT Delhi)
Conclusion: Reassessment order was quashed on cash deposits as AO did not possess any credible information to form a belief that income had escaped assessment and there was non-application of mind for reopening the matter.
Held: Assessee challenged the order of the CIT(A) in upholding the initiation of reassessment proceedings in as much as CIT(A) had failed to appreciate that the reasons recorded to initiate the reassessment proceedings did not meet the requirement of law and therefore reassessment proceedings were invalid. Assessee submitted that in r...
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