Reassessment proceeding quashed as reasons for reopening doesn’t coincide with addition made

Bhawani Castings P. Ltd Vs DCIT (ITAT Delhi)

ITAT Delhi held that appeal of the assessee is allowed since reasons for reopening doesn’t coincide with the addition made in reassessment proceedings. It is a well settled law that if no addition is made on the basis of reasons recorded for reopening, no other addition can be made.

Facts- The assessee filed its return of income for AY 2018-19 on 28.09.2018 declaring total loss of Rs. 12,52,594/-. The notice u/s. 148A(b) of the Income Tax Act, 1961 was issued to the assessee, along with the notice reasons recor

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