Once a view is conclusively taken by AO, reassessment based on same material cannot occur

DCW Limited Vs ACIT (Bombay High Court) In DCW Limited vs. Assistant Commissioner of Income Tax, the Bombay High Court addressed the reopening of assessments under Section 148 of the Income Tax Act, 1961. DCW Limited filed its return for the Assessment Year 2014-15, which was assessed under Section 143(3) after scrutiny. Later, based on audit objections, the department alleged income escapement related to deductions under Section 32AC. However, the court observed that all necessary details, including auditor certifications and machinery installation records, had been provided during the origin...