Stamp Duty Addition Deleted for Lack of Evidence of Claim

Pinnacle Contro And Ecohomes Pvt. Ltd. Vs DCIT (ITAT Pune) ITAT Pune Quashes Reassessment Initiated Merely for Verification; Deletes Stamp Duty Addition The Pune SMC Bench of the ITAT allowed the assessee’s appeal for AY 2017-18, holding that the reassessment under sections 147/148 was bad in law as it was initiated only to verify information and not on the basis of any tangible material indicating escapement of income. The reasons recorded merely stated that the information “needs to be investigated further,” which amounts to reasons to suspect, not reasons to believe—contrary to the ...