Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
The HC quashed the reopening of assessment u/s 148, holding that the reasons furnished did not disclose any fresh tangible material. The AO had sought to reapply the law differently on facts already within his knowledge during the original assessment, which is impermissible. As the assessee was a religious charitable trust, anonymous donations received in hundi were rightly claimed as non-taxable u/s 115BBC(2)(b). The ground regarding non-investment of donations in prescribed modes u/s 11(5) was inconsequential due to a prior HC order staying conversion of precious items/metals. Since no fresh material emerged after the original assessment, reopening lacked jurisdiction and was set aside in favor of the assessee.
The HC quashed the reopening of assessment u/s 148, holding that the reasons furnished did not disclose any fresh tangible material. The AO had sought to reapply the law differently on facts already within his knowledge during the original assessment, which is impermissible. As the assessee was a religious charitable trust, anonymous donations received in hundi were rightly claimed as non-taxable u/s 115BBC(2)(b). The ground regarding non-investment of donations in prescribed modes u/s 11(5) was inconsequential due to a prior HC order staying conversion of precious items/metals. Since no fresh material emerged after the original assessment, reopening lacked jurisdiction and was set aside in favor of the assessee.
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TaxTMI 
TaxTMI 
of 4881 
