Allowing the appeal, the Tribunal held that the case was reopened based on information from the Insight portal that assessee had carried out substantial financial transactions; however, the assessee’s objections that he had not entered into any such transaction were not disposed of by the Assessing Officer by passing a speaking order, and reassessment proceedings were to be quashed. (AY. 2014-15, 2016-17)
Prasanth Sunil Kumar Bohra. v. ITO (2025) 213 ITD 34 (Mum) (Trib.)
S. 147: Reassessment-Unexplained investment-Information from Insight portal-Objection was not disposed of-Reassessment order was quashed and set aside. [S.69, 148]
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