Case Law Analysis
|Income Tax Appellate Tribunal
Section 147 IT Act | Reassessment Void If Reopening Reason Differs from Final Addition : ITAT Ahmedabad
ITAT Ahmedabad quashes reassessment under Section 147 where the Assessing Officer shifted grounds from fictitious loans to bogus LTCG, violating procedural fairness. The ruling reinforces strict compliance with reopening reasons, impacting tax reassessment validity for taxpayers and revenue authorities.