https://www.taxtmi.com/caselaws?id=459274 The Court determined that the re-assessment proceedings under Section 148 of the Income Tax Act, 1961, could continue, but a final assessment order should not be issued without the Court's permission. The petitioner successfully established a strong prima facie case that the assessment was time-barred, invoking the amended provisions of Section 149(1)(b) of the Act. The respondents were given four weeks to submit a reply, and the matter was scheduled for final resolution after this period. The Court's decision effectively stayed the issuance of the final assessment order pending further judicial review. en-us Fri, 15 Mar 2024 00:00:00 +0530 Fri, 06 Dec 2024 18:57:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459274 The Court determined that the re-assessment proceedings under Section 148 of the Income Tax Act, 1961, could continue, but a final assessment order should not be issued without the Court's permission. The petitioner successfully established a strong prima facie case that the assessment was time-barred, invoking the amended provisions of Section 149(1)(b) of the Act. The respondents were given four weeks to submit a reply, and the matter was scheduled for final resolution after this period. The Court's decision effectively stayed the issuance of the final assessment order pending further judicial review. Case-Laws Income Tax Fri, 15 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459274