In Brief
This appeal concerns the Interest Tax Act, 1974, and whether a re-assessment notice can be issued when no original assessment order was ever passed. The respondent revenue attempted to re-assess the appellant's interest tax liability despite no initial assessment. The Income Tax Tribunal had correctly held that re-assessment requires a prior assessment. The High Court reversed this, prompting the Supreme Court appeal. The Court held that re-assessment is only available after an original assessment has been made; without one, no re-assessment notice can be issued. The appeal was allowed and the High Court's order was set aside.
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