Reassessment Quashed: AO's Reliance on Investigation Report Without Independent Verification Invalidates Section 147 Proceedings.

Reopening of assessment u/s 147 - AO was not having even the material before him, at the time of initiation of proceedings, on the basis of which the Investigation Wing sent his report. AO assumed and worked only on the satisfaction of only Investigation Wing. - AO has not even specified as to what is the amount of alleged income escaping assessment - re-assessment order quashed .....

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