Reassessment of income other than income for which AO had formed a reason is unjustified

Digamber Jain Atikshaya Keshtra VPO Bada Vs ITO (ITAT Jaipur) ITAT Jaipur held that reassessment of income under section 147 of the Income Tax Act other than income in respect of which AO has formed a reason to believe that the income has escaped assessment is unsustainable in law. Facts- Vide the present appeal, the assessee has mainly contested the CIT(A) has erred in confirming the action of AO of reopening the assessment u/s 147 of the Income Tax Act. Assessee states that action of CIT(A) is illegal, unjustified, arbitrary and against the fact of the case. Conclusion- The words ‘such...