Reopening After 4 Years on Same “Hawala Purchase” Material = Mere Change of Opinion: Pune ITAT Quashes Reassessment

Lorgan Lifestyle Limited Vs DCIT (ITAT Pune) Reopening After 4 Years on Same “Hawala Purchase” Material = Mere Change of Opinion: Pune ITAT Quashes Reassessment The Pune ITAT quashed reassessment proceedings initiated after four years where the AO attempted to reopen completed scrutiny assessment merely on the basis of the very same “hawala purchase” information already examined during original proceedings under section 143(3). In the case of Lorgan Lifestyle Limited (erstwhile Sri Sidhivinayak Marketing), the AO reopened assessment alleging bogus purchases of over ₹6.86 crore from p...