AO Cannot Make other Additions in Reassessment if No Addition on Recorded Issue

Ganesh Steel & Alloys Ltd. Vs DCIT (ITAT Kolkata) In the case of Ganesh Steel & Alloys Ltd. vs DCIT, the Income Tax Appellate Tribunal (ITAT) Kolkata quashed the reassessment conducted by the Assessing Officer (AO) under Section 147/148 of the Income Tax Act for the assessment year 2012-13. The case stemmed from an allegation of bogus purchases worth ₹38.75 lakhs from M/s Chakradhari Industries. The assessee had originally declared nil income, but the AO reopened the case under suspicion of these fictitious transactions. However, upon investigation, the Tribunal found that the purcha...