(C.T. Ravikumar and Manoj Misra, JJ.)
Principal Commissioner of Income Tax (Central) 2 ______ Petitioner(s);
v.
King Buildcon Pvt. Ltd. ____________________________ Respondent.
Civil Appeal No. 4326/2023 (Arising out of SLP(Civil) No. 7999/2023), decided on July 10, 2023
The Order of the court was delivered by
Order
1. Leave granted.
2. This appeal is directed against the final judgment and order dated 22.4.2022 passed by the High Court of Delhi at New Delhi in ITA No. 100/2022.
3. It is submitted by the learned counsel on both sides that the issue involved in this appeal is squarely covered by the decision of this Court in Municipal Commissioner of Income Tax v. Abhisar Buildwell Pvt. Ltd. [(2023) SCC OnLine SC 481]. In the light of the dictum laid down thereunder and in view of the indisputable fact that during the search no incriminating material was found, this appeal must fail. Consequently, it is dismissed.
4. However, in view of the decision in Abhisar’s case (supra), completed/unabated assessments could be re-opened by the AO in exercise of powers under Sections 147/148 of the Income Tax Act subject to fulfilment of the conditions envisaged under Sections 147/148 of the Income Tax Act and hence, such powers are saved in terms of the said juddgment.
5. Subject to the above, the appeal stands dismissed.
6. Pending application(s) shall also stand disposed of.
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