No U/s 153A Addition, But Reassessment Power Explicitly Preserved

DCIT Vs Oswal Apparels Pvt. Ltd. (ITAT Chandigarh) ITAT Rectifies Abhisar Buildwell Fallout: Chandigarh Bench Adds Liberty to Reopen u/s 147/148 in Absence of Incriminating Material Chandigarh ITAT, Bench ‘B’, in DCIT Vs Oswal Apparels Pvt. Ltd. (MA No.121/Chandi/2025 in ITA No.25/Chandi/2022; AY 2010-11; order dated 18-12-2025), allowed the Revenue’s Miscellaneous Application u/s 254(2) and modified its earlier order to align with the law laid down by the Supreme Court in PCIT Vs Abhisar Buildwell Pvt. Ltd. The Tribunal first condoned the delay and held that the Miscellaneous Applica...