Section 148A(d) Order Bound by Notice Scope under Section 148A(b)

Vasanthi Ramdas Pai Vs ITO (Karnataka High Court) Karnataka HC ruling on whether order u/s 148A(d) can travel beyond the grounds noted in Notice u/s 148A(b) of IT Act This judgement is one where comparison between old and new law and the implications of changes which have been made under the new law has been considered threadbare and will be helpful in any reassessment proceeding. The Hon’ble Karnataka High court in this case was considering validity of reassessment proceedings in relation to certain transactions of sale of shares which shares were received upon demerger of an undertaking wh...