Kissan Fats Ltd. v. Dy. CIT (2024)116 ITR 59 (Trib) (SN)(Chd)(Trib) BCL Industries Ltd v. Dy. CIT (2024)116 ITR 59 (Trib) (SN)(Chd)(Trib)

S. 148: Reassessment-Notice-Initiation of reassessment proceedings based on wrong recorded facts-Mistake cannot be treated as inadvertent-Reopening is void ab initio. [S. 147]

Held that the reasons recorded were factually incorrect which could not have led the Assessing Officer to arrive at a valid satisfaction that income for the year under consideration had escaped assessment. The plea of the Department that the recording of wrong facts by the Assessing Officer was an inadvertent mistake, is  of no avail and did not validate the recorded reasons. Re assessment order is  quashed as void ab initio.(AY. 2011-12)

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