2022 (6) TMI 485 - HC - Income Tax

Reopening of assessment u/s 147 - HELD THAT - There is a proposal to assess or re-assess the income or re-compute the loss or depreciation allowance or any other allowance or deduction for the assessment year 2015-16. 30 days time has been given to the assessee/petitioner to respond to the notice. We are of the considered view that the petitioner ought to respond to notice rather than rushing to the writ Court. No interference in the matter at this stage is warranted.

Summary

The High Court of Punjab and Haryana dismissed a writ petition challenging a notice issued under Section 148 of the Income Tax Act, 1961 for the assessment year 2015-16. The court advised the petitioner to respond to the notice instead of approaching the court immediately.