No Addition on Reopening Issue, No Addition on Any Other Issue: Bangalore ITAT Quashes Reassessment

Narendra Vinayak Palmure Vs ITO (ITAT Bangalore) No Addition on Reopening Issue, No Addition on Any Other Issue: Bangalore ITAT Quashes Reassessment Reassessment Fails When Recorded Reason Yields No Addition The Bangalore ITAT held that where an assessment is reopened under section 147 for a specific reason, but no addition is ultimately made on that very issue, the Assessing Officer cannot sustain any addition on a different issue discovered during the reassessment proceedings. Accordingly, the Tribunal deleted the addition made by disallowing the assessee’s claim under section 54, since th...