Section 148 Reopening Based on Incorrect Facts & Borrowed Satisfaction Quashed: ITAT Kolkata

Kedia Carbon Pvt. Ltd. Vs DCIT (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata, allowed the assessee’s appeal by quashing the reopening of the assessment under Sections 147 and 148 of the Income-tax Act for Assessment Year 2009-10. The Tribunal first admitted the additional legal grounds challenging the jurisdiction of the Assessing Officer (AO), holding that they raised purely legal issues requiring no further factual investigation and could be raised for the first time before the appellate authority. The assessee’s case arose from the reopening of its completed a...