ITAT Mumbai Quashes Reassessment: Contradictory AO Reasons Void Proceedings

Mithilesh Jagdeo Singh Pawar Vs ITO (ITAT Mumbai) Contradictory Reasons Fatal – AO’s Reassessment Held Void Ab Initio- Change of Opinion Not Permissible – Tribunal Cancels 147 Proceedings ITAT Nagpur quashed reassessment proceedings initiated u/s 147 as invalid & void ab initio. Assessee had filed return declaring income of Rs. 4,07,450/-, which was scrutinised u/s 143(3) vide order dated 26.12.2019, wherein AO accepted the return. Later, on receiving information about cash deposit of Rs. 16,43,600/- during demonetisation in Janata Sahakari Bank, Amaravati, AO reopened the case u/s 1...