Reasons for reassessment must be specific, relevant & substantiated by tangible material

Pasari Casting and Rolling Mills Private Ltd Vs Income-tax Department through its NFAC (Jharkhand High Court)

Introduction: In a significant ruling, the Jharkhand High Court addressed the petition of Pasari Casting and Rolling Mills Private Ltd against the Income-tax Department’s reassessment for the Assessment Year 2016-2017. The court’s decision to quash the reassessment orders and related notices underlines the imperative adherence to the principles of natural justice and the procedural norms

Please become a Premium member. If you are already a Premium member, login here to access the full content.