Hexaware Technologies Limited Vs ACIT (Bombay High Court)
The case of Hexaware Technologies Limited Vs ACIT, heard in the Bombay High Court, addresses significant issues surrounding reassessment proceedings under Section 148A of the Income Tax Act, 1961. This article delves into the key aspects of the case, the court’s findings, and their implications.
Detailed Analysis:
Hexaware Technologies Limited, engaged in information technology consulting, software development, and business process services, had claimed deductions under sections 10AA and 80JJA of the Income Tax Act, 1961. The assessment for the relevant year had been completed under section 143(3) of the Act. Subsequently, a reassessment notice was issued under section 148 of the Act on April 8, 2021.
The petitioner challenged the validity of the notice dated April 8, 2021, arguing that it relied on provisions that were no longer in force. The High Court, in a previous judgment, upheld the petitioner’s contention, declaring the notice invalid. However, the Supreme Court, in a related case, provided directives regarding reassessment proceedings post-April 1, 2021, treating them under Section 148A(b) of the Act.
The Assessing Officer proceeded under Section 148A(b) and issued an order after considering objections. The petitioner then contested this order through a writ petition before the High Court. The court framed several crucial issues for consideration, addressing each in detail.
