https://www.taxtmi.com/caselaws?id=449250 Delhi HC held that assessment under Section 153A cannot be reopened without incriminating material found during search. Revenue attempted to reopen completed assessment based on alleged undisclosed deposits with HSBC Bank Geneva, but failed to produce incriminating material from the search conducted on 14.11.2011. The material relied upon predated the search. Assessee denied ownership of the foreign account and refused to sign consent form that would be self-incriminating. Court found no reliable evidence to contradict assessee's position and ruled in favor of assessee, following precedents that completed assessments require incriminating material from search for reopening. en-us Wed, 13 Dec 2023 00:00:00 +0530 Wed, 07 Feb 2024 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449250 Delhi HC held that assessment under Section 153A cannot be reopened without incriminating material found during search. Revenue attempted to reopen completed assessment based on alleged undisclosed deposits with HSBC Bank Geneva, but failed to produce incriminating material from the search conducted on 14.11.2011. The material relied upon predated the search. Assessee denied ownership of the foreign account and refused to sign consent form that would be self-incriminating. Court found no reliable evidence to contradict assessee's position and ruled in favor of assessee, following precedents that completed assessments require incriminating material from search for reopening. Case-Laws Income Tax Wed, 13 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449250