Reasons recorded were vague and scanty and the approval has been granted mechanically – ITAT quashed the Reassessment Assessment
Kolkata ITAT held that “Considering the above facts and circumstances, we are of the view that the reopening of assessment has been invalidly made on two grounds (1) reasons recorded were vague and scanty and (2) the approval has been granted mechanically and is invalid. Consequently we quash the re-opening of assessment as well as assessment framed
by the AO.”
The copy of the order is as under:
