Reassessment of completed assessment Without Incriminating Material Untenable: Delhi HC

Saksham Commodities Limited Vs ITO (Delhi High Court) Delhi High Court held that a reopening or abatement would be triggered only upon the discovery of material which is likely to “have a bearing on the determination of the total income”. Thus, AO seeking to reassess completed assessment without incriminating material is untenable in law. Facts- Vide the batch of writ petitions, the petitioners impugns notices issued under Section 153C of the Income Tax Act, 1961 asserting that in the absence of any material pertaining to the Assessment Years which are proposed to be reopened and assessed ...