https://www.taxtmi.com/highlights?id=81297 Validity of reopening an assessment and the legality of issuing a new Show Cause Notice u/s 148-A(b) after the conclusion of initial reassessment proceedings. The key points are: The respondents issued a Show Cause Notice u/s 148-A(b) on the premise that the Supreme Court's judgment in Ashish Agarwal requires all notices issued u/s 148 between April 1, 2021, and June 30, 2021, to be treated as notices u/s 148-A(b). However, the assessment proceedings in this case were already concluded on March 30, 2022. Subsequently, reassessment action was re-initiated on the same set of reasons via a Show Cause Notice dated June 2, 2022, u/s 148-A(b), leading to an order u/s 148-A(d) and a notice u/s 148 dated July 19, 2022. The High Court held that ther..... en-us Fri, 13 Sep 2024 08:32:18 +0530 Fri, 13 Sep 2024 08:32:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81297 Validity of reopening an assessment and the legality of issuing a new Show Cause Notice u/s 148-A(b) after the conclusion of initial reassessment proceedings. The key points are: The respondents issued a Show Cause Notice u/s 148-A(b) on the premise that the Supreme Court's judgment in Ashish Agarwal requires all notices issued u/s 148 between April 1, 2021, and June 30, 2021, to be treated as notices u/s 148-A(b). However, the assessment proceedings in this case were already concluded on March 30, 2022. Subsequently, reassessment action was re-initiated on the same set of reasons via a Show Cause Notice dated June 2, 2022, u/s 148-A(b), leading to an order u/s 148-A(d) and a notice u/s 148 dated July 19, 2022. The High Court held that ther..... Highlights Income Tax Fri, 13 Sep 2024 08:32:18 +0530 https://www.taxtmi.com/highlights?id=81297