Reassessment Order Quashed for not considering assessee’s objections adequately

R.K. Buildcreations Private Limited Vs ITO (Rajasthan High Court) The Rajasthan High Court has set aside an order and subsequent proceedings initiated by the Income Tax Officer (ITO) against M/s R.K. Buildcreations Private Limited for the Assessment Year (AY) 2015-16. The court’s decision, delivered in the case of R.K. Buildcreations Private Limited Vs ITO, hinged on the tax department’s failure to strictly adhere to the procedural requirements laid down in Section 148A of the Income Tax Act, 1961, as amended by the Finance Act, 2021, and interpreted by the Supreme Court. Also Read...