Reopening Initiated On Basis Of Wrong Reasons Renders Very Assessment As Invalid: Mumbai ITAT

On finding the reasoning behind the Assessment made by the Assessing Officer to be wrong, the Mumbai ITAT allowed the assessee's appeal against the order of Commissioner of Income Tax (Appeals) and National Faceless Appeal Centre.The Member of the ITAT comprising Aby T Varkey (Judicial Member) and S. Rifaur Rahman (Accountant Member) observed that “the reason for reopening itself fails in...