Initiation of scrutiny assessment based on wrong facts is untenable in law

Meena Shirish Kotwal Vs ITO (ITAT Pune)

In this case the very basis of initiation of scrutiny assessment is the large investment made by the firm wherefore the appellant is one of the signatory partners. However it shall be worthy to note that, for the impugned year the appellant has made no investment in her individual capacity so has to trigger any basis for scrutiny assessment on the prescribed criteria of investment, thus the very basis of initiation of scrutiny in the appellant’s case fails, consequently the impugned assessment stand with no legs

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