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Reassessment based on mechanical 148A(d) order without speaking reasons invalid
Case Law Details
- Case Name
- Indus Valley Promoters Ltd. Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Indus Valley Promoters Ltd. Vs DCIT (ITAT Delhi)
Mechanical Reopening – No Reasons, No Reassessment- Blank 148A(d) Order Invalidates Reassessment: ITAT Delhi -Speaking Order Mandatory: ITAT Cancels 147 Action Based on Blank 148A(d) Order
Delhi Tribunal was seized with the validity of reassessment proceedings initiated u/s 147 for A.Y. 2018-19.
Assessee had originally filed its return declaring income of ₹4.92 crores which was processed u/s 143(1). Later, AO reopened the assessment on the ground that Assessee had received ₹2.20 crores as accommodation entries from shell c...
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