Reassessment Quashed as Completed Assessment Had Attained Finality: Delhi HC

United Associates Vs ITO (Delhi High Court) The Delhi High Court examined the validity of reassessment proceedings initiated under Section 148 of the Income Tax Act, 1961, after the original assessment had already attained finality. Both parties agreed that the issue stood covered by an earlier decision of the Court, which clarified the scope of the Supreme Court’s ruling in Union of India v. Ashish Agarwal. The Court reiterated that the Supreme Court judgment was limited to addressing reassessment notices that had been invalidated by High Courts solely because they were issued under the una...