The Himachal Pradesh High Court has stayed reassessment proceedings under Section 148 of the Income Tax Act, noting that the validity of such notices is currently pending before the Supreme Court. This highlights judicial restraint and provides crucial interim relief to taxpayers and professionals.
📌 Why it matters:
- Avoids parallel proceedings until the Supreme Court settles the issue
- Brings temporary clarity amid widespread reassessment litigation
- Underscores the importance of timely and informed legal strategy
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