The HC quashed the reopening of assessment u/s 148, holding that...

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.