Closed assessment cannot be reopened without any actionable material

Arun Khanna Vs ITO (Delhi High Court) Delhi High Court held that reopening of closed assessment which has reached culmination without any actionable material is unsustainable in law and hence liable to be quashed. Facts- Order passed u/s. 148A(d) of the Income Tax Act is challenged vide the present writ petition. The principal allegation against the petitioner is that he is a beneficiary of accommodation entries provided by, one, Mr Rajnish Garg. It is alleged that the petitioner was a beneficiary of Rs.50,94,24,738/- which, according to the respondents/revenue, stood credited in the bank acco...