No addition sustains if addition based on which reasons recorded for reopening got deleted

Valmik Thapar Vs PCIT-18 (Delhi High Court) Delhi High Court held that once addition on the basis of which reasons recorded for reopening of assessment under section 147 of the Income Tax Act has been deleted, then, other addition made are not sustainable in law. Accordingly, appeal allowed. Facts- Present petition is preferred by the assessee on the question of law that whether in view of the additions made on the basis of reasons recorded having been deleted in the appellant’s case on merits, does the reopening of assessment under Section 148 of the Act survive? Conclusion- The Punjab ...