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The High Court dismissed the writ petition filed by the assessee challenging the validity of the notice dated 26th July, 2010 issued u/s. 148 for reopening the assessment for the assessment year 2006-07 holding that there was no error in issuing notice u/s. 148 and noting that the income-tax return submitted by the Petitioner was processed u/s. 143(1) on 10th March, 2007.
On appeal, the Supreme Court set aside the order of the High Court and remitted the matter back to the High Court for de novo consideration in accordance with law since the High Court had not given any reasons for not setting aside the reopening of the assessment.
