Reassessment proceedings upheld as AO has sufficient information to reopen the case

R S Alloys Vs ITO (Delhi High Court) Delhi High Court held that AO has sufficient information available with him to carry out reassessment proceedings. Accordingly, reopening of assessment u/s. 148A of the Income Tax Act upheld and petition dismissed. Facts- The petitioner, a partnership firm, is engaged in the business of trading of ferrous and non-ferrous metals. The challenge in this petition is to reassessment proceedings for the Assessment Year (AY) 2019-20 which are being carried out under Section 147/148 of the Income Tax Act, 1961 (the Act) in pursuance to the order dated 28.06.2025, i...