Reassessment Quashed for Borrowed Satisfaction in Alleged Accommodation Entry Case

Aroma Chemicals Vs ACIT (ITAT Delhi)

The appeal before the Income Tax Appellate Tribunal (ITAT), Delhi concerned the validity of reassessment proceedings initiated against the assessee for Assessment Year (AY) 2015–16. The reassessment arose from an order passed by the National Faceless Assessment Centre under sections 147, 144, and 144B of the Income-tax Act, 1961, which was upheld by the National Faceless Appeal Centre (CIT(A)).

The reassessment was initiated through a notice issued under section 148 dated 30 March 2021. The basis for reopening was information received t

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