Dismissing the appeal of the revenue the Court held that there was no allegation of withholding material or suppression of facts nor there was there anything incriminating recorded against assessee, hence no protective assessment could have been made. (AY. 2008-09)
PCIT v. Kalyan Buildmart (P.) Ltd. (2021) 127 taxman.com 280 (Raj.)(HC) Editorial : SLP of revenue dismissed on the ground of delay, PCIT v. Kalyan Buildmart (P.) Ltd. (2021) 279 Taxman 443 (SC)
S. 147 : Reassessment-Protective assessment-Search and seizure-Statement of third party-No incriminating material was found against the assessee-Order Tribunal quashing the reassessment was affirmed. [S. 132, 148, 260A]