Gold Parcel Seizure Insufficient Evidence: Tax Authorities Cannot Reopen Assessments Without Substantive Proof of Income Discrepancy

HC held that the seizure of a 49 gms gold parcel dispatched for job work does not constitute incriminating material for reopening assessments for AYs 2012-13 to 2017-18. The Assessing Officer (AO) failed to record satisfaction that the seized material bore any nexus with the petitioner's income. Following precedents, the court set aside the impugned notices and order under Section 153C, thereby allowing the assessee's appeal and quashing proceedings initiated without valid justification. .....

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