Manish Mittal v. ITO (2022) 98 ITR 18 (SN)(Delhi) (Trib)

S. 147 : Reassessment-Information relating to cash deposit and purchase of property-Addition was made on account of expenditure-Reasons for initiation of reassessment proceedings ceased to survive-Reassessment is bad in law.[S. 37(1), 148]

Held that   the reasons for reopening the assessment were cash deposit in the savings bank account and purchase of immovable property.  However, the assessment had been completed making additions on account of disallowance of the claim of expenditure. When the reasons for initiation of  reassessment proceedings ceased to survive, reassessment is bad in law.    (AY. 2013-14)