Reassessment Quashed for Failure to Record Reasons Under Section 148: ITAT Mumbai

Mohd Shafi Isamail Merchant Vs ITO (ITAT Mumbai)

Reassessment Quashed for Non-Recording of Reasons u/s 148(2): ITAT Mumbai Draws Adverse Inference Against Revenue

The Mumbai ITAT (SMC Bench) allowed the appeal of the assessee for AY 2006-07 and quashed the reassessment proceedings initiated under sections 147/148, holding that the mandatory requirement of recording reasons for reopening was not complied with.

The reassessment was triggered solely on the ba

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