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Reopening Without Cogent Material & on Mere Surmise/Conjecture is Unsustainable: ITAT Delhi
Case Law Details
- Case Name
- Naz Shazia Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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Naz Shazia Vs ITO (ITAT Delhi)
ITAT Delhi held that the reopening of assessment had been initiated by mere surmise and conjecture without having any cogent material to form a reasonable belief that income of the assessee had escaped assessment within the meaning of section 147 of the Income Tax Act.
Facts-
The assessee had filed the return of income for the Asst Year 2014-15 on 24.12.2014 declaring taxable income of Rs 9,34,420/-. This return was duly processed u/s 143(1) of the Act. No scrutiny assessment was framed by the revenue. AO received information from the Kolkata Investigation Wing s...
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