Dismissing the appeal of the revenue the Court held that ; Reopening of assessment based on assessment of subsequent assessment Year without any new material is found ,reassessment was not valid. ( AY.2007-08, 2008-09 )
CIT v. Jai Prakash Associates Ltd. (2018) 403 ITR 41 (All) (HC)
S.147: Reassessment —Reopening of assessment based on assessment of subsequent assessment Year without any new material is found ,reassessment was not valid. [ S. 80IA, 148 ]