Reassessment Allowed Beyond Four Years for Non-Disclosure of Primary Facts: SC

Advertisement Dalmia Power Limited Vs ACIT (Supreme Court of India) The Supreme Court considered an interlocutory application arising from proceedings connected with reassessment notices issued under the Income Tax Act, 1961, following a High Court judgment that had allowed writ petitions and quashed such reassessment proceedings. The Supreme Court noted that it had already stayed the High Court’s order dated 23.04.2025 and clarified that, in view of this stay, all further proceedings pursuant to a subsequent penalty notice dated 14.11.2025 issued under Section 272A of the Act would also ...