Reinitiating reassessment on same set of reasons on which assessment already concluded is unsustainable

Jaswant Singh Juneja Vs ITO (Delhi High Court) Delhi High Court held that reinitiating of reassessment action u/s. 148 of the Income Tax Act on the same set of reasons on which assessment proceedings had already been concluded is unjustified and hence liable to be set aside. Facts- Petitioner is the proprietor of M/s. JMK Enterprises, which is engaged in dealing in electronic goods and components. Petitioner filed its return of income for the AY 2014-15 on 29.11.2014, declaring a total income of Rs. 23,05,560/-. Respondent No. 1 issued a notice u/s. 148 dated 31.03.2021 proposing to assess/re...