Absence of incriminating material during search precludes ...

Incriminating evidence essential for additions in completed assessments, reopening permissible if statutory conditions met.

Case Laws Income Tax

August 17, 2024

Absence of incriminating material during search precludes additions in completed assessments, as per Supreme Court's ruling in Principal Commissioner of Income-tax, Central-3 Vs. Abhisar Buildwell (P.) Ltd. However, completed/unabated assessments can be reopened by the Assessing Officer u/s 147/148, subject to fulfilling prescribed conditions. The High Court clarified that while no additions can be made without incriminating evidence from search/requisition, reopening of assessments is permissible if statutory requirements u/s 147/148 are met. Contentions regarding reopening were expressly kept open.

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Absence of incriminating material during search precludes ...

Incriminating evidence essential for additions in completed assessments, reopening permissible if statutory conditions met.

Case Laws Income Tax

August 17, 2024

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