AO doesn’t have jurisdiction to assess/re-assess unabated assessment u/s. 153C without any incriminating material

Ashok Commercial Enterprises Vs ACIT (Bombay High Court)

Bombay High Court held that jurisdiction to assess/ reassess u/s 153C of the Income Tax Act in respect of unabated/ completed assessments without any incriminating material found during the search unjustified.

Facts- Petitioner is a partnership firm engaged in the business of financing. AO issued a notice u/s. 142(1) of the Act requiring petitioner to furnish details regarding the write-off of bad debts. AO accepted the claim of the petitioner f

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