ITAT Delhi Quashes Reassessment due to violation of CBDT Instruction on jurisdiction

Aashiyana Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Delhi) Assessee filed his return of income   declaring loss of Rs.10,97,461/-. Return of income was accepted u/s. 143(1). Thereafter, a survey operation was carried out in the case of Shreeji Group of cases, the assessee is one of the group companies. During the course of survey operation it was gathered that Shreeji Group of Companies have received huge share capital/share premium from various entities. During the course of assessment proceedings, AO had issued notices to various parties to verify identity, creditworthiness and ge...