https://www.taxtmi.com/highlights?id=84370 The HC quashed the impugned order and remitted the case back to the respondents to pass a fresh order on merits. It held that invocation of Section 144 for assessment by best judgment method was unjustified. The petitioner's claim of loss from sale of derivatives was to be re-examined, despite the return not being e-verified initially. The HC clarified that reopening u/s 148 for reassessment u/s 147 cannot be disputed afresh in the de novo proceedings. en-us Sat, 28 Dec 2024 08:30:10 +0530 Sat, 28 Dec 2024 08:30:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84370 The HC quashed the impugned order and remitted the case back to the respondents to pass a fresh order on merits. It held that invocation of Section 144 for assessment by best judgment method was unjustified. The petitioner's claim of loss from sale of derivatives was to be re-examined, despite the return not being e-verified initially. The HC clarified that reopening u/s 148 for reassessment u/s 147 cannot be disputed afresh in the de novo proceedings. Highlights Income Tax Sat, 28 Dec 2024 08:30:10 +0530 https://www.taxtmi.com/highlights?id=84370