Reassessment order invalidated for non-consideration of assessee's reply under Section 148A(b) before passing Section 148A(d) order.

A reassessment order under Section 148A(d) of the Income-tax Act could not be sustained because the assessee's reply to the Section 148A(b) notice was not considered. The assessee had raised the Corporate Insolvency Resolution Process, the approved resolution plan, and an earlier order in a connected reassessment matter for the preceding year. The Revenue argued that these materials were not before the assessing authority, but the Court rejected that contention and held that the impugned order had been passed without considering the response. The order was therefore set aside in favour of the assessee.

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Issues: Whether the reassessment order passed under Section 148A(d) of the Income-tax Act, 1961 could be sustained when the assessee's reply to the notice under Section 148A(b) had not been considered.

Analysis: The notice under Section 148A(b) had elicited a response from the assessee pointing out the Corporate Insolvency Resolution Process, the approved resolution plan, and the earlier order of the Court in a connected reassessment matter for the preceding assessment year. The Revenue's stand was that the reply and the resolution plan were not before the assessing authority. The Court did not accept that contention and recorded that the impugned order had been passed without considering the petitioner's response. In these circumstances, the reassessment order could not be sustained.

Conclusion: The impugned order under Section 148A(d) was set aside and the issue was decided in favour of the petitioner.

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