NASA AGRO INDUSTRIES PRIVATE LIMITED,FAZILKA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA
In the result, the appeal filed by the assessee is allowed for statistical purpose
ITA 236/ASR/2023[2011-12]Status: DisposedITAT Amritsar26 Sept 2025AY 2011-12
Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta
For Appellant: Sh. Y. K. Sud & Sh. P. K. Anand, CAs
Section 132Section 142(1)Section 143(3)Section 148Section 153cSection 250
206 TTJ (Asr) 513 Karamjit Singh Rai vs ITO
Reassessment-Reason to believe-Absence of material and rational belief-AO mainly relied upon information derived from AIR to the effect that assessee has purchased immovable property and reopened the assessment after recording the reason that the assessee failed to explain the source of investment in the property-Reasons recorded nowhere
