Reopening u/s 147 quashed – AO’s “fishing enquiry” to investigate offshore receipts not valid formation of belief- Reassessment void where AO reopens only to verify PE/offshore claims

Huawei International Pte. Ltd. Vs ACIT (ITAT Delhi) Reopening u/s 147 quashed – AO’s “fishing enquiry” to investigate offshore receipts not valid formation of belief- Reassessment void where AO reopens only to verify PE/offshore claims Assessee, a tax resident of Singapore, engaged in providing ICT infrastructure solutions, challenged the reassessment order dated 30-03-2024 passed u/s 147 r.w.s 144C(13) in conformity with the DRP’s directions. The dispute arose from reopening of assessment for A.Y. 2014-15 based on information that Huawei International Pte Ltd had received ₹3.90 cr...