ITAT quashes Reopening of Assessment Due to Lack of Live Nexus between Reasons Recorded and Belief Formed by the Assessing Officer [Read Order]

ITAT quashes Reopening of Assessment - ITAT - Reopening of Assessment - Assessment - Lack of Live Nexus - Live Nexus - Assessing Officer - taxscan

The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the reopening of Assessment due to lack of live nexus between reasons recorded and belief formed by the Assessing Officer. The assessee company, M/s Amrit Bakewell Products Pvt. Ltd., in appeal suggest that the order passed was bad both in the eye…

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