The High Court set aside the reassessment order under section 148(A)(d) of the Income Tax Act, 1961, given to the Assessee in a show cause notice, whereby, matter was remanded to the Assessing Officer for Fresh consideration after giving proper opportunity to the Assessee to respond within two weeks

It held that the Financial Creditor had successfully discharged its burden of proof under Section 7 of the IBC by demonstrating the debt and default with comprehensive documentation.

It held that the Financial Creditor had successfully discharged its burden of proof under Section 7 of the IBC by demonstrating the debt and default with comprehensive documentation.