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2023 (6) TMI 526 - GUJARAT HIGH COURTAssessment u/s 153A - Addition u/s. 68 - Bogus LTCG - Addition u/s. 69C on account of expenses on bogus LTCG ? - HELD THAT:- Decision of Saumya Construction [2016 (7) TMI 911 - GUJARAT HIGH COURT] 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. As decided in Abhisar Buildwell P. Ltd. [2023 (4) TMI 1056 - 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 [2016 (7) TMI 911 - GUJARAT HIGH COURT] 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. No substantial question of law.
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