https://www.taxtmi.com/caselaws?id=765544 Calcutta HC held that reassessment proceedings against a dissolved company were invalid. The court found that income tax authorities violated statutory preconditions under Sections 148A(b) and 148A(d) of the Income Tax Act, 1961 by failing to conduct preliminary inquiry under Section 148A(a) and acting solely on external reports without independent application of mind. The proceedings also violated Section 14 of the IBC which imposes moratorium during CIRP, and the NCLT-approved resolution plan under Section 238 IBC precluded reassessment for the relevant period. The writ petition was allowed and all impugned notices and orders were quashed. en-us Thu, 30 Jan 2025 00:00:00 +0530 Mon, 03 Feb 2025 08:13:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765544 Calcutta HC held that reassessment proceedings against a dissolved company were invalid. The court found that income tax authorities violated statutory preconditions under Sections 148A(b) and 148A(d) of the Income Tax Act, 1961 by failing to conduct preliminary inquiry under Section 148A(a) and acting solely on external reports without independent application of mind. The proceedings also violated Section 14 of the IBC which imposes moratorium during CIRP, and the NCLT-approved resolution plan under Section 238 IBC precluded reassessment for the relevant period. The writ petition was allowed and all impugned notices and orders were quashed. Case-Laws Income Tax Thu, 30 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765544