Rejection of Objection to Section 148 Notice not means finalisation of Assessment: HC

Dar Credit And Capital Limited Vs Union of India (Calcutta High Court) In this case High Court has found Section 148 Notice issued by AO as proper and Valid and further held that Rejection of the petitioner’s objection against the impugned notice under Section 148 of the Act does not mean that it has become a final assessment order and demand has been raised against him. Petitioner will get ample opportunity in course of reassessment proceeding where procedure is like a regular assessment proceeding, to make out its case if according to him there is no escapement of income during regular ass...