Reopening Based Only on ACB Report: ITAT Quashes All 147 & 263 Orders

Arpanbhai Virambhai Desai Vs ITO (ITAT Ahmedabad) Reopening Based Only on ACB Report = Borrowed Satisfaction! ITAT Quashes All 147 & 263 Orders- No Specific Asset, No Independent Mind – Tribunal Strikes Down Reassessments & Revisions All four appeals were heard together as they arose from a common set of facts. AO reopened all the years u/s 147 based on information from the Anti-Corruption Bureau (ACB) alleging disproportionate assets (DA) in the hands of Assessee’s father (a government employee) & family members, including the Assessee. For AYs 2014-15 & 2015-16, reassessm...