Shiv Vegpro Private Limited Vs Deputy / Assistant Commissioner Of Income Tax (Rajasthan High Court)
In the case of Shiv Vegpro Private Limited Vs D/ACIT, the Rajasthan High Court quashed a reassessment order issued under the Income Tax Act. The dispute arose from proceedings initiated following a search conducted before April 1, 2021. The petitioner argued that the reassessment lacked validity based on procedural grounds. Both parties referred to the precedent set by the Division Bench of the Rajasthan High Court in Tirupati Construction Company Vs Income Tax Officer [(2024) 465 ITR 611 (Raj)], which clarified the legal position for cases involving searches conducted prior to the implementation of the new reassessment regime.
Considering the facts and the established legal precedent, the Court allowed the petition and quashed the impugned order. This decision reinforces consistency in applying procedural law concerning reassessments initiated under the older regime for searches conducted before April 1, 2021.
Assessee was represented by Advocate Mahendra Gargieya
FULL TEXT OF THE JUDGMENT/ORDER OF RAJASTHAN HIGH COURT
1. Heard.
2. Learned counsel for the parties jointly submit that issue raised in this petition is no longer res integra and stands concluded vide order dated 21.03.2024 passed by Division Bench of this Court in the case of Tirupati Construction Company Vs. Income Tax Officer [(2024) 465 ITR 611 (Raj)].
