I’m deeply grappling with the updated reassessment procedures under Sections 147 and 148, especially post-Finance Act 2021 amendments, while preparing for my CA Final Direct Taxation paper. During my articleship, I encountered a case where a notice under Section 148A(b) was issued, the assessee responded, but the AO still proceeded with the notice under 148(d) and subsequent assessment without adequately addressing the detailed reply submitted.
My concern is two-fold: Firstly, for exam purposes, how meticulously should we detail the procedural steps of 148A – especially the AO’s obligation to consider the reply and pass a speaking order under 148A(d) – or is a broader understanding focusing on escapement of income sufficient? Secondly, from a practical standpoint, if an AO passes an order under 148A(d) without adequately addressing the assessee’s detailed reply, what immediate remedy is typically advised before going to CIT(A)? Is challenging the jurisdictional aspect of the 148A(d) order through a writ petition a common, practically viable route, or is it generally advisable to first comply and then appeal, given the complexities and timelines? Any insights from practicing CAs or those who have cleared Final recently would be invaluable.