AO Must Address Objections with Speaking Order Before Reassessment: Calcutta HC

PCIT Vs Champalal Omprakash (Calcutta High Court) Calcutta High Court ruled that an Assessing Officer (AO) must pass a speaking order while disposing of an assessee’s objections to reassessment before proceeding further. The case involved Principal Commissioner of Income Tax (PCIT) vs. Champalal Omprakash, where the revenue challenged an order by the Income Tax Appellate Tribunal (ITAT), which had quashed the assessment order due to the AO’s failure to address the assessee’s objections. The revenue’s appeal, filed under Section 260A of the Income Tax Act, 1961, questioned whether t...