2023 (5) TMI 917 - HC - Income Tax

Assessment u/s 153A - completed assessment/unabated assessment in absence of any incriminating material - HELD THAT:- The decision of Saumya Construction [2016 (7) TMI 911 - GUJARAT HIGH COURT] as quoted held that the case of completed assessment/unabated assessment in absence of any incriminating material will not permit making of addition by the AO and that the AO has no jurisdiction to reopen the completed assessment.

Supreme court confirmed the view taken by the Delhi High court in Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] and of this Court in Saumya Construction (supra) laying down the law that no addition can be made in respect of completed assessment in absence of any incriminating material. The supreme court in laying down the proposition considered the object and purpose of insertion of section 153A of the Act.

In view of the above decision of the supreme court in Abhisar Buildwell P. Ltd. [2023 (4) TMI 1056 - SUPREME COURT] wherein held that no addition can be made in respect of completed/ unabated assessment in absence of any incriminating material. There is no gainsaying that the issue sought to be raised and the substantial questions of law ought to be put forth in that context, are answered.