ITAT Quashes Reassessment as Final Additions Differed from Recorded Reasons

Kavita Pahuja Vs ITO (ITAT Delhi) The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) allowed both appeals filed by the assessee, comprising a quantum appeal and a penalty appeal arising from proceedings under Sections 147 and 144B of the Income-tax Act, 1961. The Tribunal first considered the quantum appeal and examined the assessee’s legal challenge to the validity of the reassessment proceedings. The assessee contended that the reopening of assessment was unsustainable because the reasons recorded by the Assessing Officer differed from the additions ultimately made in the asse...