Bombay High Court Quashes Section 55A Notice for Valuation After Assessment Completed — Assessing Officer Cannot Refer Valuation After Passing Assessment Order Under Section 143(3) of Income Tax Act, 1961. The power under Section 55A is to be exercised during the pendency of assessment proceedings, not after the assessment order is passed.
3 Apr 2006The writ petition was filed by Rallis India Limited challenging a notice dated 19th April, 2005 issued under Section 55A of the Income Tax Act, 1961 b...
