HC Remands Case: Directs AO to Pass Speaking Order Addressing Petitioner’s Objections

Shilp Realty Private Limited Vs ITO (Gujarat High Court)

Gujarat High Court, in a recent judgment, set aside a reassessment notice issued under Section 148 of the Income Tax Act, 1961, and the subsequent assessment order for Assessment Year 2013-14, against Shilp Realty Private Limited. The court found fault with the Income Tax Officer’s (ITO) lack of independent application of mind in initiating the reassessment and the failure to pass a speaking order on the assessee’s objections.

The case originated when Shilp Realty Private Limited, which had filed its return

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