https://www.taxtmi.com/caselaws?id=751362 The ITAT Ahmedabad allowed the assessee's appeal, quashing the reassessment order under section 153A. Following Gujarat HC's decision in Kaushik Devjibhai Patel and SC's judgment in Abhisar Buildwell, the tribunal held that no additions can be made to completed assessments without incriminating material, and the AO lacked jurisdiction to reopen completed assessments. The tribunal also found that additions based solely on statements recorded under section 132(4), without considering the retraction affidavit and supporting evidence, were improper. The reassessment order was deemed without jurisdiction and bad-in-law. en-us Wed, 20 Mar 2024 00:00:00 +0530 Mon, 15 Apr 2024 08:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751362 The ITAT Ahmedabad allowed the assessee's appeal, quashing the reassessment order under section 153A. Following Gujarat HC's decision in Kaushik Devjibhai Patel and SC's judgment in Abhisar Buildwell, the tribunal held that no additions can be made to completed assessments without incriminating material, and the AO lacked jurisdiction to reopen completed assessments. The tribunal also found that additions based solely on statements recorded under section 132(4), without considering the retraction affidavit and supporting evidence, were improper. The reassessment order was deemed without jurisdiction and bad-in-law. Case-Laws Income Tax Wed, 20 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751362