Reopening Beyond Four Years Held Invalid as Based on Stale Information: ITAT Delhi

Tremendous Mining And Minerals Pvt. Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that reopening of assessment under section 148 of the Income Tax Act on the basis of stale information results into change of opinion and the same is not sustainable in law. Accordingly, appeal is allowed and reopening is quashed. Facts- A search and seizure operation u/s 132 of the Act was conducted in the case of M/s Bhushan Steel Ltd. (BSL) group and its group concerns on 13.06.2014. The case of the assessee was also covered in operation u/s 132 of the Act. The assessee filed return u/s 153A of the Act on 07.07.20...