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ITAT Quashes reassessment proceeding initiated merely based on Investigation Wing report without application of Mind
Case Law Details
- Case Name
- M/s Nishit Fincap Private Limited Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Delhi
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M/s Nishit Fincap Private Limited Vs ITO (ITAT Delhi)
In this case The original assessment was completed u/s 143(3) on 03.12.2010 determining the total income at Rs.48,360/-. I find the assessment in this case was reopened on the basis of information obtained from the Investigation Wing, according to which, during the search and seizure operations u/s 132/133A in the case of Mr. Surender Kumar Jain and group of cases and post search enquiries/verification, it is established that the Sh. S.K. Jain, who is known entry provider and also in the business of providing accommodation entries to variou...
