Reopening of assessment merely on Investigation Wing report without independent application of mind was invalid

M/s. Key Components (P) Ltd. Vs ITO (ITAT Delhi)

it is clear that there is a total non-application of mind on the part of the A.O. while recording the reasons for reopening of the assessment. He has recorded incorrect amount which escaped assessment. His conclusion was merely based on observations and information received from DIT (Inv.), New Delhi, which is not brought on record and his conclusion is merely based on doubts because he was not sure whether transaction in question is genuine or not. Therefore, the decisions relied upon by the Learned Coun

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