Reassessment Quashed for Breach of Proviso to Section 147

Krishna Gyanodaya Flour Mills Private Limited Vs ACIT (ITAT Kolkata) Borrowed Satisfaction, No Speaking Order & Beyond 4 Years—Kolkata ITAT Quashes ₹50 Cr Reopening as Void Ab Initio Kolkata ITAT ‘D’ Bench in Shree Krishna Gyanodaya Flour Mills Pvt. Ltd. Vs. ACIT, Central Circle-4(3), Kolkata [ITA No. 2179/KOL/2025, AY 2011-12, order dated 31.12.2025] allowed Assessee’s appeal and quashed reassessment proceedings initiated u/s 147/148, holding the entire exercise to be without jurisdiction. Original assessment was completed u/s 153A r.w.s. 143(3) on 27.03.2014 at Nil income. ...