Section 148 Notice Void if AO Doesn’t examine Assessee’s Filed Return

Steering Securities & Finance Pvt Ltd Vs ITO (ITAT Delhi) Introduction: The ITAT Delhi’s recent judgment in the case of Steering Securities & Finance Pvt Ltd Vs ITO has presented crucial insights into the interpretation and adherence to the Income Tax Act. Central to this case was the legitimacy of a notice issued without examining the assessee’s return. Context of the Appeal: The primary contention in this appeal arose from the action of re-opening the assessment by the Ld AO. The key issues were: 1. The AO recorded reasons unrelated to the assessee’s case and relied...