Mechanical Issue of Reassessment Notices Invalid as Lack of Application of Mind Established

Bajaj Electricals Limited Vs ACIT (Bombay High Court) The case concerns a writ petition challenging notices issued under Sections 143(2) and 142(1) of the Income Tax Act, 1961 for Assessment Year 2023–24, on the ground that they were without jurisdiction in light of Section 170A dealing with business reorganisation. The petitioner, a public listed company, had initially filed its return of income on 31.10.2023. Following a demerger approved by the NCLT on 08.06.2023, it filed a revised return on 30.12.2023. Subsequently, pursuant to an amalgamation approved by the NCLT on 01.03.2024, it file...