Natural Justice Violated as Assessee’s Explanations Were Not Properly Examined Before Reopening

Ojaswini Retailers Private Limited & Anr. Vs Union of India & Ors. (Calcutta High Court) The Calcutta High Court quashed the reassessment order passed under Section 148A(3) and the consequential notice issued under Section 148 for AY 2019-20, holding that the Assessing Officer failed to adequately consider the assessee’s replies and supporting documents before concluding that income had escaped assessment. The Court observed that although the petitioners had furnished explanations and banking records in response to the show cause notice, the impugned order dealt only with partial...