Reopening of Assessment u/s 147: ITAT upholds CIT(A) Decision, Finds Reassessment Beyond Jurisdiction [Read Order]

ITAT concluded that the reopening of the assessment was a mere change of opinion, as the original assessment had already been completed with due verification of the transaction

By Sneha Sukumaran Mullakkal - On March 10, 2025 9:12 pm - 2 mins read

Reopening of Assessment - Assessment Section 147 - ITAT - ITAT Upholds - CIT(A) - CIT(A) Decision - Reassessment - Jurisdiction - taxscan

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)] decision in deleting the additions made under section 68 of Income Tax Act,1961, concluding that the reassessment under section 147 was based on a mere change of opinion and was beyond jurisdiction. The Revenue-appellant, appealed against the order dated 27.07.2017 for…

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