Section 148 Income Tax: Court Emphasizes Bonafide Satisfaction for Jurisdiction; No Requirement to Record "Reason to Believe": Allahabad High Court

In a recent order by the Allahabad High Court, a writ petition under Section 148 of the Income Tax Act, 1961, was dismissed challenging the reassessment proceedings initiated against Shri Durga Trading Co for the Assessment Year 2016-17. Key Highlights: 1. Supplementary Affidavit Filed: The court, comprising Hon'ble Saumitra Dayal Singh and Hon'ble Manjive Shukla, considered a supplementary affidavit filed during the proceedings. 2. Grounds of Challenge: The petitioner, represented…