Assessment of other incomes not forming part of reasons for reassessment untenable: Delhi HC

PCIT Vs Sunlight Tour And Travels Pvt Ltd (Delhi High Court) Delhi High Court held that Assessing Officer cannot assess other incomes where no addition is made on account of reasons for which reassessment was initiated under section 147 of the Income Tax Act. Accordingly, appeal of the revenue dismissed. Facts- The assessment of the income chargeable to tax in the previous year relevant to AY 2007-08 was sought to be reopened by issuance of notice under Section 148 of the Act. The Assessing Officer (AO) found that there were reasons to believe that the income of the Assessee for the relevant y...