AO cannot reopen solely based on info received from DIT (Investigation)

PCIT Vs M/s. Shodiman Investments Pvt. Ltd. (Bombay High Court) In this case Assessing Officer has not applied his mind to the information received by him from the DDIT (Inv.). The Assessing Officer has merely issued a re­opening notice on the basis of intimation regarding re­opening notice from the DDIT (Inv.) This is clearly in breach of the settled position in law that re-opening notice has to be issued by the Assessing Office on his own satisfaction and not on borrowed satisfaction. FULL TEXT OF THE HIGH COURT JUDGMENT / ORDER IS AS FOLLOWS: This Appeal under Section 260­A of the Income...