Non-Application of Mind Invalidates Section 148A & 148 Notices: SC Upholds HC Decision

DCIT Vs Songwon Specialty Chemicals India Pvt Ltd (Supreme Court of India) The Supreme Court dismissed the Special Leave Petition filed by the Revenue and upheld the judgment of the Gujarat High Court. The Supreme Court found no ground to reopen the assessment and agreed that the High Court rightly quashed the show-cause notices issued under Sections 148A(b), 148A(d), and 148 of the Income Tax Act. With this, the High Court’s ruling attained finality. Read HC Judgment: Income Tax Reassessment Notice Invalid as AO Relied Only on Faulty Audit Objection The Gujarat High Court considered two co...