Reassessment Quashed for Ignoring Reply Filed Under Section 148A(b): ITAT Slams ‘Borrowed Satisfaction’

Chandrakant Kantilal Patel (HUF) Vs ITO (ITAT Ahmedabad) Reassessment Quashed for Ignoring Reply Filed Under Section 148A(b): ITAT Slams ‘Borrowed Satisfaction’ The Ahmedabad ITAT quashed reassessment proceedings initiated against an HUF after finding that the Assessing Officer ignored the assessee’s detailed reply and documentary evidences filed in response to notice under Section 148A(b), and mechanically proceeded on borrowed information from the Insight Portal without independent application of mind. The assessee had originally filed return declaring income of about ₹10.92 lakh, wh...