Reassessment not valid if no application of mind by AO: ITAT Pune

Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune)

The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” has ruled in favor of Aadhunik Infrastructure Development Pvt. Ltd. (formerly Gauri Plasticulture Pvt. Ltd.), setting aside the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, for the Assessment Year 2012-13. The appeal was filed against the order of the CIT(A)/NFAC, Delhi, which upheld the validity of reassessment and sustained an addition of ₹50 lakh

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