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The HC invalidated reassessment proceedings under Sections 148A and 148, finding them procedurally non-compliant with the Finance Act, 2021. Following its prior ruling in a similar case, the court quashed the impugned notices issued by the jurisdictional Assessing Officer. The decision was rendered subject to the Supreme Court's outcome in the pending Special Leave Petition challenging the earlier precedent. The writ petition was allowed in favor of the assessee, setting aside the notices on jurisdictional grounds, with liberty to either party to seek revival based on the Supreme Court's eventual ruling.
The HC invalidated reassessment proceedings under Sections 148A and 148, finding them procedurally non-compliant with the Finance Act, 2021. Following its prior ruling in a similar case, the court quashed the impugned notices issued by the jurisdictional Assessing Officer. The decision was rendered subject to the Supreme Court's outcome in the pending Special Leave Petition challenging the earlier precedent. The writ petition was allowed in favor of the assessee, setting aside the notices on jurisdictional grounds, with liberty to either party to seek revival based on the Supreme Court's eventual ruling.
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