https://www.taxtmi.com/caselaws?id=366616 The court found the notice issued under Section 148 of the Income Tax Act, 1961 to be invalid as it did not meet the statutory requirements regarding the threshold of escaped income. Consequently, the order passed under Section 152 and the consequential notice under Section 143(2) were also deemed unsustainable. The court emphasized compliance with statutory requirements and ruled that the amendments introduced by the Finance Bill 2012 were not applicable retrospectively to the assessment year in question. Therefore, the re-assessment proceedings were quashed, and the petitioner's writ petition was allowed without costs. en-us Mon, 25 Jun 2018 00:00:00 +0530 Wed, 22 Jul 2026 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366616 The court found the notice issued under Section 148 of the Income Tax Act, 1961 to be invalid as it did not meet the statutory requirements regarding the threshold of escaped income. Consequently, the order passed under Section 152 and the consequential notice under Section 143(2) were also deemed unsustainable. The court emphasized compliance with statutory requirements and ruled that the amendments introduced by the Finance Bill 2012 were not applicable retrospectively to the assessment year in question. Therefore, the re-assessment proceedings were quashed, and the petitioner's writ petition was allowed without costs. Case-Laws Income Tax Mon, 25 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366616