Double Addition Not Permissible – ITAT Delhi Deletes Rs. 20.25 Cr Addition

DCIT Vs Rudra Buildwell Homes Pvt. Ltd. (ITAT Delhi) No Proper Sanction No Reopening- Double Addition Not Permissible as Funds Already Taxed in Lender’s Hands – ITAT Delhi Quashes Reopening & Deletes 20.25 Cr Addition The primary issue was validity of reassessment proceedings initiated u/s 147 r.w.s. 148 based on notice issued u/s 148A(d) dated 23.05.2022. Assessee challenged reopening on the ground that since more than three years had elapsed from end of AY 2016-17, mandatory approval u/s 151(ii) from Principal Chief Commissioner or equivalent authority was required, but Revenue had o...