Reassessment Notice & Order Quashed for Denial of Opportunity to Produce Accounts

Advertisement Bankura District Central Co-operative Bank Limited Vs Union of India & Ors. (Calcutta High Court) The writ petition before the Calcutta High Court challenged an order dated 25 June 2025 passed under section 148A(3) of the Income-tax Act, 1961, and the consequential notice issued under section 148, initiating reassessment proceedings for assessment year 2019–20. The petitioner, a co-operative society engaged in banking business, had originally operated under one Permanent Account Number (PAN) and later obtained a new PAN, under which it thereafter conducted its transactio...