Reassessment Quashed Where No Addition Made on Reasons for Reopening: ITAT Dehradun

Kedar Ghati Enterprises Vs ITO (ITAT Dehradun) The Income Tax Appellate Tribunal allowed the assessee’s appeal for AY 2020-21 and quashed the reassessment proceedings, holding that when no addition is ultimately made on the very reasons recorded for reopening, the reassessment cannot be sustained in law. The case was reopened under sections 148/147 on the basis of information relating to the assessee’s liquor business transactions. However, in the reassessment order dated 10.03.2025, the Assessing Officer merely rejected the books of account and estimated net profit at 2.86%, an action whi...