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December 2025

Re-assessment — Information available on Insight Portal — Incorrect information — Mechanism u/s. 148A — Requirement to verify information u/s. 148A(a) prior to 01/09/2024 — After the amendment, 148(1) is similar to 148A(b) — Despite the amendment, it is the responsibility of the AO to verify information available on insight portal — AO must conduct enquiry, if necessary 148A(1) to be invoked only after verification of the information made available to the AO.

By Keshav Bhujle | Ritu Punjabi, Advocates
Reading Time 5 mins

49. 2025 (10) TMI 1242 (Guj.)

Vasuki Global Industrial Limited vs. Principal CIT

Date of order 15/10/2025

S. 148A of ITA 1961

Re-assessment — Information available on Insight Portal — Incorrect information — Mechanism u/s. 148A — Requirement to verify information u/s. 148A(a) prior to 01/09/2024 — After the amendment, 148(1) is similar to 148A(b) — Despite the amendment, it is the responsibility of the AO to verify information available on insight portal — AO must conduct enquiry, if necessary 148A(1) to be invoked only after verification of the information made available to the AO.

The assessee is engaged in the business of trading of coal. In the year 2021, summons were issued to the assessee by the Director General of GST (Intelligence) under the GST provisions and the statement of the Director of the assessee company was recorded. Thereafter, the inquiry against the assessee was concluded on payment of tax, interest and penalty under the provisions of the GST Act. Subsequently, in the year 2022, summons were issued to the assessee by the Income-tax Department which were replied to by the assessee and the details called for were also furnished by the assessee.Read More

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