L.N. HOTA & COMPANY vs COMMISSIONER OF INCOME TAX

The Supreme Court addressed the applicability of Section 143(2) of the Income Tax Act, 1961, in the context of an assessment made without proper scrutiny. The Court held that the matter requires reconsideration as no definitive finding was made regarding the applicability of Section 143(2) during the previous proceedings. Consequently, the Court remitted the matter to the High Court for a fresh decision in accordance with law, setting aside the earlier orders of the lower authorities.