Reassessment cannot be initiated based on insufficient, vague, or irrelevant materials

Pasari Casting and Rolling Mills Private Ltd Vs Income-tax Department through its National Faceless Assessment Centre (Jharkhand High Court) Introduction : The Jharkhand High Court recently adjudicated a pivotal case involving Pasari Casting and Rolling Mills Private Ltd and the Income-tax Department through its National Faceless Assessment Centre. This legal battle, rooted in the complexities of tax reassessment procedures and the principles of natural justice, scrutinizes the legitimacy of the reassessment proceedings for the Assessment Year 2014-2015. The petitioner sought relief against th...