Reopening of assessment u/s 148 based on old information is invalid

DCIT Vs G.S. Atwal & Company (Engineers) Pvt. Limited (ITAT Kolkata)

ITAT Kolkata held that original assessment was made under section 143(3)/147, i.e. scrutiny assessments. Further, there was no fresh information available with the revenue. Hence, reopening of assessments relying on the same information is invalid.

Facts-

The assessee was engaged as Del-credere commission agent by Tata Steel Limited. Post finalization of the assessm

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