Delhi HC Sets aside Reassessment Order for non-consideration of reply

Standard Chartered Bank UK Vs ACIT (Delhi High Court) Introduction: The case of “Standard Chartered Bank UK vs ACIT” involves an appeal to the Delhi High Court against an order of reassessment for Assessment Year 2019-20. The petitioner, Standard Chartered Bank UK, challenged the validity of the reassessment order on the grounds of jurisdiction and non-consideration of crucial information provided in its response to the notice. Analysis: The Delhi High Court reviewed the orders and notices issued in the case, including the notice under Section 148A(b) of the Income Tax Act, the ord...