2017 (10) TMI 1334 - HC - Income Tax

Reopening of assessment - Addition u/s 68 - ITAT deleted the addition as no notice was issued under Section 143(2) before the completion of assessments - The ITAT followed the view in Principal Commissioner of Income Tax vs. Jai Shiv Shankar Traders Pvt. Ltd. (2015 (10) TMI 1765 - DELHI HIGH COURT) as affirmed in Principal Commissioner of Income Tax -18 vs. Silver Line 2015 (11) TMI 809 - DELHI HIGH COURT - Held that - No substantial question of law.

Summary

The Delhi High Court dismissed the Revenue's appeal against the ITAT's order to delete amounts under Section 68 of the Income Tax Act due to lack of notice under Section 143(2) before assessments were completed. The decision was based on precedents from previous cases. No substantial question of law arose.