Income Tax Reassessment Requires valid service of Section 148 Notice

PCIT Vs Madhu Gupta (Delhi High Court) Introduction: A recent judgment by the Delhi High Court in the case of PCIT vs. Madhu Gupta has underscored a crucial aspect of reassessment proceedings under the Income Tax Act. The court’s ruling, dated 21.08.2022, emphasizes the pivotal role of a validly served notice under Section 148 for initiating reassessment. This article delves into the details of the case, shedding light on the court’s findings and the implications for taxpayers. Background: The case pertains to the assessment year 2007-08, and the primary contention revolves around ...