Reopening of assessment merely based on AIR Data is invalid

Raj Kumar Maheshwari Vs ITO (ITAT Jaipur) It is manifest from the reasons recorded by the AO in the assessment order that the AO received the information about the credit card bills payment of Rs. 3,85,336/- and further the AO recorded the fact that since the assessee has not filed any return of income, therefore, it is not possible to verify the said transaction and tax liability in this transaction. These reasons recorded by the AO are factually not correct and the formation of belief by the AO is actually based on assumption of incorrect facts. We find that the assessee has filed his return...