Same Bank Deposits Can’t Be Subjected To Reassessment Twice: Orissa HC

HomeDirect TaxSame Bank Deposits Can’t Be Subjected To Reassessment Twice: Orissa HC

Same Bank Deposits Can’t Be Subjected To Reassessment Twice: Orissa HC

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Published on

04/03/2026

By Mariya Paliwala

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The Orissa High Court has quashed reassessment proceedings initiated by the Deputy Commissioner of Income Tax (DCIT) against a Cuttack-based partnership firm, holding that the same transaction cannot be subjected to reassessment twice under Section 147 of the Income Tax Act, 1961. The bench of Chief Justice Harish Tandon and Justice Murahari Sri Raman has…

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Mariya Paliwala https://www.jurishour.in/

Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

Same Bank Deposits Can’t Be Subjected To Reassessment Twice: Orissa HC

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