SC to Examine Whether Verification Requirement Survives Section 148A Amendment

Principal Chief Commissioner of Income Tax & Ors. Vs Vasuki Global Industries Limited (Supreme Court of India) The matter before the Court arose from reassessment proceedings initiated by the Income Tax Department based on information available on the Insight Portal, which was derived from GST authorities. The petitioner contended that such information was incorrect and had already been clarified by the GST authorities, yet reassessment proceedings continued against various assessees who had transacted with the petitioner. The Supreme Court condoned the delay and issued notice, observing t...