Rajasthan High Court Quashes Shree Cement Reassessment Notice

Shree Cement Limited Vs ACIT (Rajasthan High Court) The Rajasthan High Court, in the case of Shree Cement Limited vs. ACIT, addressed the legality of a reassessment notice issued under Section 148 of the Income Tax Act, 1961, for the Assessment Year 2017-18. The petitioner, Shree Cement, argued that the notice, along with the preceding order under Section 148A(d), was invalid and barred by limitation. The core of the dispute revolved around the reassessment proceedings initiated after a survey revealed alleged escaped income related to deductions claimed by the company under Section 80IA for i...