ITAT Delhi Quashes Reassessment as No Addition Made on Recorded Reason u/s 147

Sonia Kapoor Vs ITO (ITAT Delhi) ITAT Delhi Quashes Reassessment – No Addition Made on Recorded Reasons, Entire 147 Action Held Void Delhi ITAT allowed the appeal of Sonia Kapoor & struck down reassessment framed u/s 147 r.w.s. 144B, holding that when no addition is ultimately made on the very reason recorded for reopening, the reassessment becomes invalid in law. Reassessment was initiated alleging that Assessee had made cash payment of ₹9,60,000/- for purchase of property, which constituted income escaping assessment. Notice u/s 148 was issued & assessment was framed u/s 147 r.w...