Borrowed Satisfaction from Insight Portal Invalid; Re-opening Section 68 Addition Quashed

Devkrupa International Vs ACIT (ITAT Ahmedabad) The ITAT, Ahmedabad Bench held that re-opening based solely on Insight Portal inputs, without independent application of mind, is invalid in law. In this case (AY 2017-18), the AO issued s.148 notice dated 29.03.2021 alleging accommodation entries of ₹71.42 lakh from M/s Kasturi Commodities Pvt. Ltd., and completed reassessment u/s 147 r.w.s. 144B, making addition u/s 68. The Tribunal found the reasons recorded to be mechanical and generic—they merely reproduced portal information, did not disclose the source or nature of material, recorded n...