https://www.taxtmi.com/caselaws?id=422293 The High Court stayed the re-assessment order under Section 148 of the Income Tax Act, 1961, finding discrepancies in the respondent's actions. The Court noted that the proceedings were initiated based on misleading information related to a different entity, not the petitioner, and criticized the arbitrary approach of the respondents. The Court extended the stay, directed the respondents to file counter affidavits, and emphasized the importance of transparency and legality in exercising powers under the Act. Further hearings were scheduled to address the issues raised and ensure fairness in the assessment process. en-us Mon, 18 Apr 2022 00:00:00 +0530 Thu, 12 May 2022 22:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422293 The High Court stayed the re-assessment order under Section 148 of the Income Tax Act, 1961, finding discrepancies in the respondent's actions. The Court noted that the proceedings were initiated based on misleading information related to a different entity, not the petitioner, and criticized the arbitrary approach of the respondents. The Court extended the stay, directed the respondents to file counter affidavits, and emphasized the importance of transparency and legality in exercising powers under the Act. Further hearings were scheduled to address the issues raised and ensure fairness in the assessment process. Case-Laws Income Tax Mon, 18 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422293