Reassessment proceedings based on query already raised in original assessment unsustainable

PMC Fincorp Ltd. Vs ACIT (Delhi High Court) Delhi High Court held that reassessment proceedings will be invalid where once a query is raised and answered by the assessee in original assessment proceedings but thereafter AO didn’t made any addition in the assessment order. Facts- The petitioner filed its Return of Income (ROI) for the Assessment Year (AY) 2011-12 on 30.09.2011. The ROI was processed u/s. 143(1) of the Act. Nearly four years later, a notice dated 17.09.2013 was issued to the petitioner u/s. 148 of the Act. In response to the notice, the petitioner filed a ROI, which was simila...