Re-opening of assessment unjustified as complete disclosure of primary material facts already submitted

Asian Paints Ltd. Vs ACIT (Bombay High Court) Bombay High Court held that re-opening of assessment under section 147 of the Income Tax Act is unjustified as the assessee provided complete disclosure of all the primary material facts during the scrutiny assessment. Facts- The case of the petitioner was selected for scrutiny assessment during the course of which a show cause notice was issued by AO requiring it, inter-alia, to submit the details of the ‘advertisement and sales promotion expenses’. In response to the said show cause notice, the petitioner filed its reply giving details regard...