https://www.taxtmi.com/caselaws?id=469379 Reassessment proceedings under the Income-tax Act could not stand where the notice under section 148A(b) and the order under section 148A(d) proceeded on the premise that the relevant transactions were not disclosed, although they were already reflected in the return for AY 2019-20. The HC held that this factual error destroyed the jurisdictional basis for reassessment, and the consequential notices, orders, and penalty proceedings were unsustainable. The reassessment and penalty actions were quashed, and the petition was allowed. en-us Wed, 05 Mar 2025 00:00:00 +0530 Mon, 15 Jun 2026 23:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469379 Reassessment proceedings under the Income-tax Act could not stand where the notice under section 148A(b) and the order under section 148A(d) proceeded on the premise that the relevant transactions were not disclosed, although they were already reflected in the return for AY 2019-20. The HC held that this factual error destroyed the jurisdictional basis for reassessment, and the consequential notices, orders, and penalty proceedings were unsustainable. The reassessment and penalty actions were quashed, and the petition was allowed. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469379