https://www.taxtmi.com/caselaws?id=402668 The High Court of Madras directed the Respondent to reconsider re-assessment proceedings under Section 148 of the Income Tax Act for the assessment year 2005-2006. The Court emphasized the importance of providing reasons and allowing objections before re-assessment, citing relevant Supreme Court and Delhi High Court decisions. Acknowledging the retrospective applicability of an amendment to Section 40(a)(ia) of the IT Act, the Court granted the Petitioner an opportunity to submit representations supported by materials. The Respondent was instructed to conduct a re-evaluation, provide a personal hearing to the Petitioner, and refrain from adverse actions until the process was completed. en-us Wed, 06 Jan 2021 00:00:00 +0530 Fri, 08 Jan 2021 02:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402668 The High Court of Madras directed the Respondent to reconsider re-assessment proceedings under Section 148 of the Income Tax Act for the assessment year 2005-2006. The Court emphasized the importance of providing reasons and allowing objections before re-assessment, citing relevant Supreme Court and Delhi High Court decisions. Acknowledging the retrospective applicability of an amendment to Section 40(a)(ia) of the IT Act, the Court granted the Petitioner an opportunity to submit representations supported by materials. The Respondent was instructed to conduct a re-evaluation, provide a personal hearing to the Petitioner, and refrain from adverse actions until the process was completed. Case-Laws Income Tax Wed, 06 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402668