Assessment completed after proper inquiry cannot be reframed without fresh evidence

DCIT Vs N. M. Agrofood Products Pvt. Ltd (ITAT Jaipur)

ITAT Jaipur held that assessment which are already completed after making proper inquiries cannot be allowed to again reframed merely based on the search without any fresh evidence. Addition unsustainable

Facts-

The case of the assessee was selected for scrutiny and the assessment u/s 143(3) was completed on 25.03.2015. Thereafter, search was conducted in 2018 and AO observed that as

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